President clears Bill to facilitate reconstruction of dilapidated buildings in Mumbai
President Ram Nath Kovind has given assent to three state bills, including a legislation which will smoothen the process of reconstructing dilapidated buildings or a complex of buildings in land-starved Mumbai. According to the new legislation, the consent of 51 percent of the residents will be required for reconstruction or repair of old and dilapidated buildings. Mr. Farshid Cooper, Managing Director, Spenta Corporation said, “The amendment is a long awaited change which will specifically help the redevelopment of old and dilapidated buildings in South Mumbai. The anticipated benefit of accelerating the process of redevelopment will not only improve the quality of the lives of those that inhabit these old and dilapidated structures but also in many cases reduce the risk to life that is posed by the occupation of these homes. We hope that the execution of this most recent amendment is swift and seamless."
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