The City and Industrial Development Corporation (CIDCO) recently announced revisions to its reconstruction policy last week. A building can now be renovated with only 51% of the housing society members' approval as opposed to the previous 100%. This decision has been made to enable the quicker rehabilitation of existing buildings on CIDCO sites in Mumbai. The rest of the policy's terms and conditions will remain the same.
The City and Industrial Development Corporation (CIDCO) of the Maharashtra government announced revisions to its reconstruction policy last week wherein a building can be renovated with only 51% of the housing society members' approval as opposed to the previous 100%.
The CIDCO claimed in a release that it had modified its building reconstruction policy in accordance with the instructions of Chief Minister Eknath Shinde and his deputy Devendra Fadanvis. The town planning body in Navi Mumbai stated, "The CIDCO has incorporated a condition that the building can be reconstructed with the permission of just 51% of the members of the housing society instead of the former 100%."
The CIDCO created a separate policy in 2013 for building reconstruction. According to this guideline, authorization from every housing society member was necessary for the building to be rebuilt. However, in accordance with the updated policy only 51% of the total members of the housing society will need to provide their written consent in the form of an affidavit to the CIDCO in order to get permission for the reconstruction of a structure. The rest of the policy's terms and conditions will remain the same.
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