Mumbaikars take up self-redevelopment of old apartments
In a new initiative, a number of cooperative housing societies in Mumbai have taken it upon themselves the task of redeveloping their apartments.
The Mumbai District Central Cooperative Bank (MDCCB) is also encouraging the initiative by extending loans for the task.
Around half-a-dozen societies in the city have got the go-ahead for self-redevelopment from the Maharashtra Housing and Area Development Authority (MHADA), an official said.
The MDCCB has also sanctioned loans to eight societies, a MHADA official said, adding that around 500 housing societies have shown the interest in re-developing their old flats.