Self-redevelopment offers bigger flats, more profits: Darekar

Officials from Marathwada’s civic bodies, MHADA, Revenue Department, and Cooperative Registrars participated. Darekar cited successful self-redevelopment examples from Mumbai, where flat sizes increased from 350 to 1,100 sq. ft. and 500 to 1,300 sq. ft. Unlike private builders who reduce carpet area by 30–35% self-redevelopment ensures direct gains for society members. He explained that a 5,000 sq. ft. plot on a 9-meter road can yield thrice the built-up area using tools like 0.40 FSI, 1.15 TDR, and premium FSI. Estimated redevelopment costs stand around Rs 1 crore. With joint funding, flat cost can be capped at Rs 2,000 per sq. ft. Societies can also access government concessions and low-interest loans from the Maharashtra State Co-operative Bank. Darekar urged societies to avoid private developers and instead claim one free flat per member and share profits from extra flats, promoting financial self-reliance. City has 1,325 cooperative housing societies; 700–800 are in liquidation. From 2012 to 2025, only 140 completed conveyance. Of the 12 societies that underwent redevelopment, only one opted for self-redevelopment. Housing Federation President J.C. Francis raised key challenges and requested policy support. A new housing policy with single-window clearance is expected soon.