Palghar : Self-redevelopment is fast emerging as a people-driven revolution in Maharashtra, said BJP MLC and Mumbai District Central Cooperative Bank Chairman Pravin Darekar. Speaking at a guidance camp in Vasai, Palghar district, Darekar highlighted growing public involvement and government support as key drivers of this housing transformation.
He emphasized that self-redevelopment empowers residents to independently rebuild their housing societies without relying on private builders. “It’s less of a technical issue and more about giving people control over their own future,” he stated.
Darekar noted that the Mumbai District Bank has implemented a special loan policy, which has already helped complete 20 redevelopment projects. Over 1,600 proposals have been received so far. To boost funding, ₹1,500 crore has been arranged via the State Cooperative Bank and another ₹1,000 crore through the National Cooperative Development Corporation (NCDC).
He also revealed that the state government has given in-principle approval to establish a Self-Development Finance Corporation, expected to significantly enhance the pace and efficiency of redevelopment across Maharashtra. Comparing it to the impactful Slum Rehabilitation Authority (SRA) model, Darekar expressed confidence in its transformative potential for urban housing.
