Picture this — MHADA has 56 societies comprising 3,000 buildings in the city. With no more land available to build more affordable homes, redevelopment is the only option.

MHADA plans to demand housing stock instead of the premium amount that it has been collecting from private builders in exchange for a No Objection Certificate (NOC) to redevelop MHADA buildings. Secondly, it also plans to offer each tenant of MHADA buildings a corpus fund, which private builders have been offering.