History

The Mumbai District Central Co-operative Bank Ltd. is a central financing agenc
operative societies in Mumbai district, which is popularly known as "MUMBAI BANK" and is re
Act in the year 1974 and started its functioning on 12th Feb.1975. Since there is no agricultu
District, MUMBAI BANK is catering to the financial needs of non agricultural co-operative socie
co-op. banks, Urban co-op. credit societies, Employees co-op. credit societies, Housin
Co-op. consumers stores, Industrial, fisheries and labour co-op. societies etc.
In India, an integral part of the policies formed by the Co-operative movement is focused on the
country, upliftment of poor and propagation of principle which represents the very socio-cultural
Co-operative movement has enabled us to develop the economy and to bring social change a
of the co-operative depends largely on their ability to face the challenges by converting th
opportunities of growth and development in the fast changing liberalized economic era. The
movement is so far the largest movement in the world. In India co-operatives operate in almost
i.e. agricultural, agro-processing, fertiliser, marketing, credit, dairies, spinning, handloo
sugar, fisheries, banking, etc.
In India co-operatives have gained popularity because they have proven capabilities to reach a
and have strengthen the faith in co-operatives. The area of operation of some of the co-ope
village, taluka, district, state or all India basis. Computerization is a new need of busines
Operational efficiency, customer service, communication & management information system a
parameters to ensure success of business organization. These parameters are improved to a
help of computers and information technology (IT) by The Mumbai District Central Co-operativ
operatives are based on the values of self-help, self-responsibility, democracy, equality, equity
co-operative principles are the guidelines by which co-operatives put their values into practice
Co-operative Alliance (ICA) in its centennial conference held in Manchester in September
adopted seven basic principles of Co-operation.
 Voluntary and Open Membership
 Democratic Member Control
 Member Economic participation & Control
 Autonomy & Independence
 Education, Training & Information
 Co-operation among Co-operation
 Concern for Community
A co-operative society is an autonomous association of persons united voluntarily to meet their
social and cultural needs through a jointly owned and democratically controlled enterprise. Th
operative credit structure in the state of Maharashtra. The Maharashtra State Co-operative
institution working at the state level whereas the district central co-operative banks are work
These district central co-operative banks are catering to the financial needs of primary c
concerned district. These banks are playing vital role particularly in providing financial assistan
 well as non-agricultural cooperative sector through member co-operatives. District Central Co
acting as a balancing centre of surplus funds of all primary co-operatives in the district..
We appeal to all co-operatives and corporations to come forward and avail financial assistanc
the socio- economic Development of the people in greater Mumbai and Maharashtra.

Financial position in this bank :

Sr.No Description 31.03.2017 31.03.2018
1 Share Capital 102.05 106.27

2 Reserve Fund & Other Reserves 539.70 651.89

3 Deposits 4894.58 5181.65

4 Investments 3649.87 3343.97

5 Loans & Advances 1696.05 2511.34

6 Borrowings 38.00 580.47

7 Working Capital 6171.01 6589.06

8 Profit 13.05 0.29

9 C.D.Ratio 34.65 48.47

10 Membership:

Individual 1770 1760

Societies 17503 17651

Total 19273 19411

Deposits

Low Cost 932.76 1085.24

High Cost 3961.82 4096.41

Total 4894.58 5181.65

Retail Banking :
1- Saving Account
2- Current Account
 1 Saving Account

Who can open an Account

 An Individual in his/her name
 More than one person jointly
 An illiterate person
 A blind / visually Impaired / Incapacitated Persons
 A guardian on behalf of minor in the minor's name
 Clubs, Association, ( only if registered)
 Local bodies, Co-operative Housing Societies.

Interest
It will be calculated @ 4% p.a. on the basis of Daily Product and will be credited
quarterly intervals in March,June,September & December.

Pass Book
Pass book will be supplied to every savings Bank depositor showing his accoun
address, transactions with date, amount and particulars.

Incidental Charges
 If a minimum balance of Rs.1000/- (with cheque book facility) or Rs.500/- (without ch
is not kept, the Bank will charge incidental charges at the rates as in force fro
Also refer to our Service Charges on this site for other incidental charges.
 Initial Deposit for opening Savings Bank Account & minimum balance to be maintain
:
With Cheque Book Facility - Rs.1,000/-
Without Cheque Book Facility - Rs. 500/-

Requirements for opening account

General
 Penalty at the rate prescribed will be debited to the account on quarterly basis for
of prescribed minimum balance.
 Bank reserves the right to close any account, if cheques drawn are returned unp
want of funds or the account is considered as irregular/non-satisfactory.
 Account not in operation for more than 2 years will be treated as inoperative/dorma
 Bank reserves the right to alter, amend, and rescind the rules from time to time.
 Two copies of latest photographs
 Proof of residence to the satisfaction of the Bank (passport, Driving Licence, Ra
Card, Electricity Bill, etc.)
 Photo Identity Proof ,PanCard, AADHAR Card.
 Introduction by person known and acceptable to the Bank
 Permanent Account Number (PAN) with original for verification or declaration in Fo
 Initial deposit in cash.

Current Account

Initial Deposit for opening Current Account & minimum balance to be m

account :-- Rs. 2000/-
No Interest
Statement of Account : Bank will issue statement of account to the account
month.
Pass book will be supplied to every current Account Holder showing his accoun
address, transactions with date, amount and particulars.
Benefits : For Saving and Current Account.
 Any Branch Banking (ABB), Inter connectivity
 ATM Facility / Debit Card Facility
 RTGS/NEFT Facility
 SMS Banking Facility
 AADHAR Card based facilities.
 Statment of account on E-mail.

Interest Rates :
1 – Deposit
2 – Loans

Deposit

DEPOSITS INTEREST RATE CIRCULAR

The following revised Interest Rates on Deposits shall come into force w.e.f dt.01/08/2018
Rate Per
Annum for Rate Per
Senior Annum Trust
Rate Citizen / & All Type of
Type of Per Staff / Ex- Co-op
Sr.No Deposits Annum Staff Societies

A Saving Deposits 4.00% 4.00% 4.00%

B Term Deposits - - -

Deposits for 7
1 days to 29 days 4.00% 4.50% 4.50%

Deposits for 30
2 days to 45 days 5.00% 5.50% 5.50%

Deposits for 46
3 days to 90 days 5.50% 6.00% 6.00%

Deposits 91
days to 180
4 days 6.00% 6.50% 6.50%
 Deposits for 181
days to 364
5 days 7.00% 7.50% 7.50%

Deposits above
12 months to 24
6 months 7.50% 8.00% 8.00%

Deposits above
24 months to 36
7 months 7.15% 7.75% 7.75%

Deposits above
36 months to 60
8 months 7.30% 7.50% 7.50%
.

 The revised interest rates are applicable for deposits received and renewed on or after 01/08/2
 Interest on Term Deposit shall be calculated at quarterly rests and fraction interest should be
nearest rupee.
 Term deposits shall be accepted for a period mentioned above.
 Senior Citizens will have to produce Age Proof such as PAN Card, Election Voting Card, Se
etc.(Minimum Age 60 years & above)
 Own money declaration from Staff / Ex-staff members should be obtained.
 In case of renewal of an overdue deposit strictly observe terms of our office circular NO.MB/H
O.C./2016-2017/3004 DT-21/11/2016
 Recurring Deposits shall be accepted for the maximum period of Three years only.
 The Rate of interest applicable to prematured withdrawal will be 2% less than the rate a
period for which the deposit is remained with the bank.This applicable rate will be those
force when the said deposit is kept with the bank or 2% below the contract rate, whichev
 In case of those depositor/s who is/are not having account with the branch, KYC norms as per RB
be strictly followed before investment.

INTEREST RATE CIRCULAR FOR CASH CERTIFICATE DEPOSIT

The rate of interest for aforesaid scheme are as follows and they are effective from 03/01/2018

Contract Rate of Interest Effective rate of Interest (for

Sr.No Period (P.A.) information)

1 For 12 months 6.63% 6.80%

2 For 15 months 6.32% 6.50%

3 For 18 months 6.25% 6.50%

4 For 21 months 6.20% 6.50%

5 For 24 months 6.16% 6.50%

6 For 27 months 6.11% 6.50%

7 For 30 months 6.07% 6.50%

8 For 33 months 6.03% 6.50%

9 For 36 months 5.98% 6.50%

10 For 39 months 5.73% 6.25%

11 For 42 months 5.69% 6.25%

12 For 45 months 5.66% 6.25%

13 For 48 months 5.62% 6.25%

14 For 51 months 5.58% 6.25%

15 For 54 months 5.55% 6.25%

16 For 57 months 5.51% 6.25%

17 For 60 months 5.48% 6.25%

18 For 63 months 5.44 % 6.25%

19 For 66 months 5.41% 6.25%

20 For 69 months 5.38% 6.25%

21 For 72 months 5.34% 6.25%

22 For 75 months 5.31% 6.25%

23 For 78 months 5.28% 6.25%

24 For 81 months 5.25% 6.25%

25 For 84 months 5.22% 6.25%

26 For 87 months 5.19% 6.25%

27 For 90 months 5.16% 6.25%

28 For 93 months 5.13% 6.25%

29 For 96 months 5.10% 6.25%

30 For 99 months 5.07% 6.25%

For 102
31 months 5.05% 6.25%

For 105
32 months 5.02% 6.25%

For 108
33 months 4.99% 6.25%

For 111
34 months 4.96% 6.25%

For 114
35 months 4.94% 6.25%

For 117
36 months 4.91% 6.25%

For 120
37 months 4.89% 6.25%

INTEREST RATE CIRCULAR FOR REINVESTMENT DEPOSIT

 The rate of interest for aforesaid scheme are as follows and they are effective from 01/08/2018.
Individuals Socity / Staff/ Ex-Staff / Sr. Citizen

Contract Contract
Rate of Effective Rate Rate of Effective Rate
Interest of Interest Interest of Interest
(P.A.) (Information) (P.A.) (Information)
r.No Period

For 12 7.30% 7.50% 7.77% 8.00%

1 months

For 15 7.23% 7.50% 7.70% 8.00%

2 months

For 18 7.17% 7.50% 7.63% 8.00%

3 months

For 21 7.11% 7.50% 7.56% 8.00%

4 months

For 24 7.05% 7.50% 7.49% 8.00%

5 months

For 27 6.70% 7.15% 7.29% 7.75%

6 months

For 30 6.64% 7.15% 7.21% 7.75%

7 months

For 33 6.58% 7.15% 7.14% 7.75%

8 months

For 36 6.53% 7.15% 7.07% 7.75%

9 months

For 39 6.61% 7.30% 6.79% 7.50%

10 months

For 42 6.56% 7.30% 6.73% 7.50%

11 months

For 45 6.50% 7.30% 6.67% 7.50%

12 months

For 48 6.45% 7.30% 6.62% 7.50%

13 months

For 51 6.40% 7.30% 6.56% 7.50%

14 months

For 54 6.35% 7.30% 6.51% 7.50%

15 months

For 57 6.30% 7.30% 6.46% 7.50%

16 months

For 60 6.26% 7.30% 6.41% 7.50%

17 months

 The revised interest rates are applicable only to the fresh Reinvestment, Term deposits receive
or after 01/08/2018.
 Interest on Reinvestment Deposit shall be calculated and compounded at quarterly rests at c
fraction interest should be rounded off to the nearest rupee.
 Reinvestment deposits shall be accepted for a period from 12 months to 60 months in th
of 3 months at contract rates only.
 Senior Citizens(Minimum Age 60 years and above) will be offered an additional rate of interest
 Senior Citizens will have to produce Age Proof such as PAN Card, Election Voting Card, Se
etc.(Minimum Age 60 years & above)
 The facility of additional interest rate as above contract rate is made applicable to the staff m
members of the bank against the receipt of own money declaration.
 In case of renewal of an overdue deposit strictly adhere terms of our circular No.MB/H.O. Accou
2017/3004 dt.21/11/2016.
 The Rate of interest applicable to prematured withdrawal will be 2% less than the rate a
period for which the deposit is remained with the bank. This applicable rate will be thos
in force when the said deposit is kept with the bank or 2% below the contract rate, which
 In case of those depositor/s who is/are not having account with the branch KYC norms as per RB
be strictly followed before investment
 The contract interest rate shall be printed on Reinvestment term deposit receipt.
Loans

Sr. No. Type of Loan Interest (21/06/2016)

FOR INDIVIDUALS

Loan against gold ornaments (upto 2.00 lacs)Bullet Loan

Loan against Gold Ornaments OD (Upto 25.00 lacs)
1 10.50%

2 Cash Credit Facility to businessmen 11.00%

3 Loan to Students for Higher Education 10.00%

4 Vehicles Loan (New Vehicle) 10.00%

5 Mortgage Loan against Property / Machinery 12.00%

6 Temporary Overdraft Facility 16.00%

7 Clean O.D. to Staff 11.00%

8 Individual loan for Salary Earners 12.00%

9 Service Sector / For bussiness 12.00%

10 Self Help Group 12.00%

11 O.D. against N.S.C. / K.V.P. 10.50%

12 O.D. against F.D. Receipts 0.45% more than F.D. Interest rate

13 O.D. against LIC 10.50%

14 I.B.P 16.00%

15

Housing Loan to Individuals

Fixed Rates

Loan Period Interest Rate p.a.

16
 Upto 180 Months

Floating For ladies 8.50%

Floating For Gents 8.65%

Fixed For All 9.50%

Special Interest Rate For Mill Workers 9.50%

Corporative socities:

दि.31/07/2018 रोजीच्या मा.संचालक मंडळ सभेतील दिर्णयािुसार दि.01/08/2018 पासूि बँकेच्या अल् प मुित व मुित कजाणवरील व्याजिर वरील व्याजिर खालील

व्याजिर(ि.सा.ि.शे.)दि.01/08/2018
Sr.No तपशील पासूि

1 नागरी बँ का 10.30%

पगारदार सहकारी सं स्था

A -GRADE
B -GRADE 9.90%
C -GRADE 10.15%
10.40%
2

नागरी सहकारी पतसं स्था

A -GRADE 10.65%
B -GRADE 10.75%
C -GRADE 11.00%

4 ग्राहक सहकार सं स्था (प्राथमिक व िध्यवती) 10.90%

5 िच्छीिार सहकारी सं स्था 10.90%

5 िजुर सहकारी सं स्था 10.90%

7 िमहला औद्योमगक सहकारी सं स्था 10.90%

8 इतर औद्योमगक सहकारी सं स्था 10.90%

9 बे रोजगार / से वा / नामवन्यपूर्ण सहकारी सं स्था 10.90%

गृ हमनिाण र् सहकारी सं स्था (इिारत दु रुस्ती बां धकाि व सोलर

10 मसस्टिि) 10.90%

11 गृ हमनिाण र् इिारत पुनबाां धर्ी(Redevelopment) 12.50%

12 इतर सहकारी सं स्था 10.90%

13 सहकारी सं स्थां च्या िाध्यिातू न घरकजण सहकारी सं स्था 10.50%

14 कॉपोरे ट कजण 12.50%

 वै यस्टिक घरकजण
१५ वर्ण
िमहलां साठी(फ्लोमटं ग)-8.50%
पुरुर्ां साठी(फ्लोमटं ग)-8.65%
सवाां साठी(मिक्स)-9.50%
15 मगरर्ी कािगार घरकजण

16 वाहन कजण 10.00%

17 िमिनरी तारर् गहार् कजण 11.50%

18 स्थावर िालित्ता तारर् कजण 11.50%

19 िैक्षमर्क कजण 10.00%

20 वै यस्टिक मबल मिस्काऊमटं ग 14.50%

व्यावसामयक / धं देवाईक व्यापारी/ नव उद्योजक

इत्यादींसाठी(अण्णासाहे ब पाटील आमथणक िागास मवकास
21 िहािंिळाअंतगण त ये र्ारे नवउद्योजक इत्यादीस
ं ाठी) 12.00%

22 िमहलां साठी नवीन ररक्षा खरे दीसाठी वाहन तारर् 9.50%

नव उद्योजक व्यावसामयक कजण िि(िमहला बचत गट /

23 िमहला िंिळ यां च्याकररता ) 9.50%

ठे व तरलता राखर्ीसाठी अल् प िुदत कजण (नागरी पतसं स्था व

24 पगारदार सं स्था) 2.00%(ठे वीवरील व्याजदरा पेक्षा जादा )

बृ हन्ुंबईतील खाजगी अनुदामनत / मवनाअनुदामनत प्राथमिक /

िाध्यमिक व उच्चिाध्यमिक िाळां िधील मिक्षक / मिक्षकेतर
25 किणचारी यां ना िुदत कजण 10.00%(ठे वीवरील व्याजदरा पेक्षा जादा )

बृ हन्ुंबईतील खाजगी अनुदामनत / मवनाअनुदामनत प्राथमिक /

िाध्यमिक व उच्चिाध्यमिक िाळां करता पॉवर जेनेरेटर /
26 मलफ्ट बसमवर्े / रं गरं गोटी इत्यादी साठी कजण 10.50%(ठे वीवरील व्याजदरा पेक्षा जादा )

27 से वा क्षे त्रािी मनगिीत / व्यवसायासाठी 12.50%

28 पगारदार व्यिीस
ं ाठीचे वै यस्टिक कजण 12.50%

29 सोनेतारार् अमधकर्ण कजण (रू. २५.०० लाखां पयां त) 10.90%

30 सोनेतारार् बु लेट कजण (रू. २.०० लाखां पयां त) 10.90%

31 एन.एस.सी.मकसान मवकास पत्र, तारर् अमधकर्ण कजण 10.90%

32 जीवन मविा पोलीसीचे तारर् कजण 10.90%

ठे वीवरील व्याजदरा पेक्षा 0.45% जादा

िुदत ठे वी तारर्ावर अमधकर्ण सवलत
33 व्याजदराने

34 तात्पु रते अमधकर्ण कजण 17.00%

35 स्वयं सहायात्ता बचत गट 12.00%

36 आय.बी.पी.(सहकारी सं स्था व वै यस्टिक) 16.00%

उपोरोक्त िरासाठी खालील अटी लागू राहतील.

1) कजाण वरील व्याजदर मद.01/08/2018 रोजी व तद्नं तर नवीन िंजूर होर्ार्ण या कजाण साठी लागू राहतील.
2) िुदत कजाण वरील व्याजदर हे बदलते असून दार वर्ी ते रीसेट करण्यात येतील
3)या पूवी िंजूर झाले ल् या व उचल झाले ल् या घरकजाण वरील व्याजदर १०% पेक्षा जास्त असल् यास सदरचे व्याज
मवनंतीनुसार परतिेि क्षिता व परतिेि हफ्ता रक्कि व उवणररत कजण परतिेिीसाठी उपलब्ध कालावधी मवचारात घ
मिक्स व्याजदराने रीसेट करून दे ण्यात येतील.
4)घरकजाण वरील व्याजदर रीसेट करून दे तेवेळी कजण येर्ेबाकी रक्किेवर १% प्रिार्े रीसेट चाजे स करासही एक रक्क
कजण दाराकिून रीसेट भरर्ा झाले नंतर कजण हफ्ता परतिेिीच्या तारखेपासून कजाण वरील व्याजदर रीसेट करून दे ण्या
5)नवीन व जुन्या घरकजाण वर िंजूर होर्ार्ण या (मगरर्ी कािगारां च्या घरकजाण सह)नवीन टॉपअप कजाण वरील
९.५०% व्याजदराप्रिार्े मिक्स राहतील.सदर दोन्ही कजाण ची एकमत्रत कजण ियाण दा रु ४०.०० लाख या प्रिार्े राहील.
6)बँकेच्या कजण धोरर्नुसार अन्य बँका अथवा आमथण क संस्थाकिील घरकजण टे कओवर करर्ेसाठी िंजूर होर्ायाण घर
व्याजदर द.सा.द.िे . 09.50% या प्रिार्े मिक्स राहील. सदर दोन्ही कजाण ची एकमत्रत कजण ियाण दा रु.४०.०० लाख या प्र
7)मद.०१/०४/२०१७ पासून िंजूर झाले ल् या नवीन घर कजाण वरील फ्लोमटं ग पद्धतीचे व्याजदरािध्ये प्रमतवर्ी एक एमप्रल पा
हप्त्याची रक्कम, कजण परतिेि उवणररत कालावधी मवचारात घेऊन बदलले ल् या व्याजदरानुसार पुनरण मचत करण्यात य
8)कजाण चे परतिेिीचे हप्ते दरिहा व्याजासह(DAILY REDUCING BALANCE)पद्धतीने मनस्टचचत करण्यात येतील
9)ज्या पगारदार सहकारी संस्था िंजूर कजण रक्किेच्या ७०% एवढ्या रक्किेच्या िुदत ठे वी लीनिाकण व मिसचाजण रून
दे तील अिा संस्थां च्या कजाण वरील व्याजदर द .सा.द.िे. ९.६५% प्रिार्े राहील

Other Services:

1-RTGS / NEFT

Charges for NEFT w.e.f. 1st August, 2012 as follows :

Amount Charges
Upto Rs 10,000/- Rs 2.50 per transaction
Rs 10,001/- to Rs 1,00,000/- Rs 5/- per transaction
Rs 1,00,001 to Rs 2,00,000/- Rs 15/- per transaction
Above Rs 2,00,000/- Rs 25/- per transaction
Plus Service Tax & Education Cess, Higher Education Cess is also applicable
Timings are as follows:
Days Timings
Monday-
Friday 9:00 hrs to 18:30 hrs
 9:00 hrs to 18:30 hrs(1st &
Saturday 3rd Sat )

Charges for RTGS w.e.f 3rd November, 2010 as follows:

Amount Charges
Upto Rs 2,00,000/- to Rs 5,00,000/- Rs 25/- per transaction
Above Rs 5,00,000/- Rs 50/- per transaction
Plus Service Tax, Education Cess, Higher Education Cess & Time Varying Tariff Charges are a
Timings are as follows:
Customer Inter-bank
Days Transactions Transactions
Monday- 9:00 hrs to 16:30
Friday hrs 8:00 hrs to 19:45 hrs

9:00 hrs to 14:00 9:00 hrs to 18:30 hrs

Saturday hrs (1st & 3rd Sat )

2 – SMS Banking

To Register yourself for SMS Banking contact our Branch.

For Pull SMS, please follow the below steps and send it to 9222000404

 Account Balance Query

Type SMS like MDCC <space>BQ<space><14digit a
e.g. MDCC BQ 00161005004016

 Mini Statement (last 3 transactio

Type SMS like MDCC <space>MS<space><14digit a
e.g. MDCC MS 00161005004016

 Cheque Status Inquiry :- Type SMS like MDCC <space>MS<space

e.g. MDCC CS 123456

 To Block ATM Card

Type SMS CARDBLOCK from your registered mobile no & send it to 9222000404
 Terms And Conditions for Individuals and Joint Account Holders
Terms And Conditions for Urban Banks and Co-operative Societies or Companies

3 – Insurance product :
Mumbai Bank has signed Referal agreement with Future Generali Insurance Company for selli
Life Insurance Products w.e.f August 2011

www.nabard.org
www.npci.org.in
www.mscbank.com
www.maharashtra.gov.in
www.sahakarayukta.maharashtra.gov.i

News for this bank: https://timesofindia.indiatimes.com/

9/3/2018 Mumbai: Co-op bank takes lead, to fund self-redevpt of housing societies - Times of India

Printed from

Mumbai: Co-op bank takes lead, to fund sel

redevpt of housing societies
TNN | Aug 5, 2018, 12.13 AM IST

MUMBAI: With self-redevelopment of housing socie

Mumbai District Central Co-operative Bank has bec
that has decided to grant loans for even self-redeve
dilapidated cessed buildings.
As reported by TOI last week, self-redevelopment k
the project and residents themselves appoint a cont
management consultant to redevelop their propertie
9/3/2018 Mumbai: Co-op bank takes lead, to fund self-redevpt of housing societies - Times of India
In the board meeting held on July 31, the bank decided to fund such schemes. “A policy is being currently
expert Chandrashekhar Prabhu to approve such projects,” a senior bank official told TOI.So far, the bank h
crore and given in-principle approval to sanction Rs 770 crore to redevelop 19 housing societies.

Another 537 housing societies in the city have held general body meetings to go in for self-redevelopment.

Prabhu who has been campaigning for self-redevelopment was asked by the bank to recommend a policy for
redevelopment of slums, old and dilapidated buildings and for properties acquired by Mhada.

So far, slum-dwellers had to approach developers for redevelopment despite the government declaring addit
floor space index (FSI) of 10% over and above the FSI available to developers for self-redevelopm.

A committee under the chairmanship of S S Tinaikar appointed in 2000 to review the SRA schemes had opin
be replaced. “The SRA scheme in its present form is of the builder for the builder by the builder and the bene
dwellers is purely coincidental,” said the report.

Recently, the owners of Parshuram Wadi in Prabhadevi and 165 tenants had a series of meetings and resolv
redevelopment. Tenants of three buildings at C P Tank were brought together with their landlords to jointly re
buildings. Similarly several buildings in Shivaji Park, Dadar Hindu colony, Matunga and Sewri have also come

“Condition of buildings acquired by Mhada under chapter VIII A have deteriorated due to the provision in the
sale of surplus area to outsiders. In these buildings tenants who cannot afford to buy extra area will now get
while those who can afford to buy extra area can buy it at discounted prices,’’ said Prabhu. “Those availing o
for the total cost of the project. In an area where the selling price is Rs 45000-50000 per sq ft, tenants can ge
15,000 per sq ft,” said Prabhu.
A committee under the chairmanship of S S Tinaikar appointed in 2000 to review the SRA schemes had opin
be replaced. “The SRA scheme in its present form is of the builder for the builder by the builder and the bene
dwellers is purely coincidental,” said the report.

Recently, the owners of Parshuram Wadi in Prabhadevi and 165 tenants had a series of meetings and re
redevelopment. Tenants of three buildings at C P Tank were brought together with their landlords to joint
buildings. Similarly several buildings in Shivaji Park, Dadar Hindu colony, Matunga and Sewri have also c

“Condition of buildings acquired by Mhada under chapter VIII A have deteriorated due to the provision in
forbidding sale of surplus area to outsiders. In these buildings tenants who cannot afford to buy extra are
600 sq ft free while those who can afford to buy extra area can buy it at discounted prices,’’ said Prabhu.
extra area will pay for the total cost of the project. In an area where the selling price is Rs 45000-50000 p
get it at Rs 10,000-15,000 per sq ft,” said Prabhu.