Mhada plans insurance for residents of old buildings | india | Hindustan Times
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Mhada plans insurance for residents of old buildings

india Updated: Feb 18, 2009 16:11 IST
Gigil Varghese
Gigil Varghese
Hindustan Times
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More than 10 lakh tenants living in the city’s 16,259 dilapidated buildings may get insurance cover in the Rs 60-crore budget of the Mumbai Building Repairs and Reconstruction Board.

Board Chairman Sachin Ahir, said: “We have put a proposal before the housing board and plan to get a cover of more than Rs 1 lakh for each tenant living in the old buildings.”

Many of the dilapidated buildings were constructed decades ago and are crumbling. The state is considering a new policy to reconstruct these buildings so that residents need not risk their lives. However, the notification on the same is not yet issued.

Ahir added that they would approach Life Insurance Corporation of India and other insurance agencies and finalise the details in 15 days. “We will also make budget provision to help payment of installments,” he added.

The Board also proposed that tenants living in transit camps for more than 22 years should be given flats.

“People living in transit camps want to permanently live in flats. We will rehabilitate them soon,” said Ahir.

The Floor Space Index (FSI) permitted for the reconstruction of transit camp is 4.

FSI is the amount of construction that is allowed on a plot of land. Higher the FSI, taller the buildings can be. The transit camps have been built on an FSI of 1, said Ahir.

A contingency fund of Rs 12 crore will be allocated and a new joint CEO Kalam Patil will initiate a new drive against those encroaching transit camps.

Ahir said encroachers have occupied 30 per cent of some transit camps and almost 80 per cent in some.

He added that Mhada would computerise the data on tenants living in dilapidated buildings.