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Mumbai / Correspondent – Many banks as well as financial institutions have paid the developers by looking at the letter of intent (LOI). In fact, after seeing the letter of intent (LOI), the financial institutions had to contact the Slum Rehabilitation Authority and then pay. But that did not happen. Crores of rupees have been invested in the slum rehabilitation scheme but the developer has not done any work beyond the letter of intent. Therefore, the Slum Rehabilitation Authority will develop itself by taking over about 500 projects that have been stalled for many years, Home Minister Dr. Jitendra Awhad said in a press conference held at his official residence in Mumbai today.
Receiving a letter of intent (LOI) under a slum rehabilitation scheme does not mean that the developer becomes the owner of the land. Thousands of slum dwellers are on the streets as many projects are closed under the Slum Rehabilitation Scheme. For this, the government intends to provide houses to the poor by developing the Slum Rehabilitation Authority itself by taking over the pending projects. The decision has been taken by the Slum Rehabilitation Authority to plan the Shivshahi Rehabilitation Project and take appropriate measures for the closed projects and build their houses in the rehabilitation building. Dr. Awhad also clarified that this decision will also apply to MHADA.
It will no longer be the case that you submit a letter of intent and the project stalls. He will also be limited. After taking the letter of intent (LOI), the time limit will be fixed after checking the legal issues regarding how many days to work. Financial institutions have invested around Rs 50,000 crore in slum rehabilitation schemes. In contrast, many partially demolished slums are still standing, buildings are partially finished, and thousands of people are out. The decision was taken with the intention that they should get shelter immediately. Awhad said.