Builders Causing Delays in Mumbai's Redevelopment Will Face Consequences

Builders Causing Delays in Mumbai's Redevelopment Will Face Consequences

Builders Causing Delays in Mumbai's Redevelopment Will Face Consequences

Union Commerce and Industry Minister, Piyush Goyal, issued a firm warning on Sunday to builders and officials involved in delays and disruptions in redevelopment projects in Mumbai, stating that they will face severe consequences, including blacklisting and imprisonment. Goyal's remarks were made during the handover of new homes to 150 families under a Slum Rehabilitation Authority (SRA) scheme in the Kandivali suburb.

Goyal emphasised that true development goes beyond GDP figures; it lies in ensuring every citizen has a secure, permanent, and dignified home. He stressed that until every individual has access to such housing, the government's work remains unfinished.

While acknowledging the successful completion of the project at Kandivali, the minister highlighted that the government would not tolerate negligence, corruption, or delays in the SRA redevelopment process. "Builders who abandon projects, halt rent payments, or deliver substandard work will be blacklisted. In severe cases, they may face imprisonment. I also demand that action be taken against government officials who collude with such builders," Goyal stated.

The minister also underlined that beneficiaries of the redevelopment must have the right to choose their developer, free from political or administrative interference. He called for the SRA process to be transparent and fully accountable, ensuring fairness for all parties involved.

About the author
Sandeep Sadh

About Sandeep Sadh

Sandeep Sadh has been in the real estate business since 1993 in Mumbai. He has expertise in Buying, Selling, Leasing properties in Mumbai and a deep understanding of legal and tax related matters due to his experience.

Summary

Over the years, he has experienced the City's growth. He has been a columnist in the Times of India with numerous articles, which bring about a clear picture of the real estate market in Mumbai. He is a regular on NDTV, CNBC, ET Now Real Estate and Zee News, giving his experienced quotes as and when required.

Sandeep Sadh has used information and technology since the year 1998 and now what people call it Prop Tech to cater to the needs of Home Buyer, Seller, Investor and Corporates, HNI and NRI looking to Buy/Sell or Lease their properties in the Mumbai Property Market.

Sandeep has a holistic experience of real estate be it Leasing an Apartment for your CEO in the most upmarket buildings, to enter into a long lease for your office in Mumbai in prime buildings or an Investment in good projects with a detailed analysis keeping in mind the Demand and Supply and other micro factors of the project/property.

Sandeep Sadh has developed a few websites like www.mumbaipropertyexchange.com, www.realestatemumbai.com, www.propi.in which augment the real estate consulting business.

Right from Investments in Primary Markets to Selling, leasing and specializing for NRI’s all over the world. He is an expert in NRI Home Buying and Selling and has a good understanding of the Income Tax laws pertaining to Selling a Property and Repatriating funds overseas or reinvesting based on Capital Gains etc.

Experience

  • Residential Leasing
  • Commercial Leasing
  • Residential Home Buying
  • Commercial Property Buying
  • Investment Properties with complete Property Management as your Real Estate Family office

While transacting in the above segments, he has complete experience and deep understanding of the paper work, his areas of expertise are :

  1. Drafting of the Leave and License Agreements
  2. MOU for Buying/Selling Properties
  3. Drafting Agreement for Sale
  4. Gift Deeds
  5. Computing of Capital Gains with current ready reckoner values
  6. Drafting of Supporting Power of Attorney.

As an add on Service, Sandeep Sadh has tied up with various Professionals like Lawyers and Chartered Accountants who add value in transacting and specially services for Non Resident Indians.

Application to Income Tax for Lower Tax Deduction Certificate – Through a qualified CA and keeping a grip on the traction so that the remittance back to Non Resident Indians after Selling the property is seamlessly transferred.

You can connect with Sandeep Sadh on ssadh@mumbaipropertyexchange.com

LinkedIn - https://www.linkedin.com/in/sandeepsadhmpe/