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Self Redevelopment and Reviving Stalled Projects

Author Name: Adv. Darsh Dharod, Dr. Adv. Harshul Savla | Format: Paperback | Genre : Business, Investing & Management | Other Details
Amazon Sales Rank: Ranked #9 in Real Estate

Mumbai is often referred to as the city of dreams for all Indians but the issue of dilapidated buildings haunts Mumbai. There are more than 16,000 buildings in Mumbai which are in dilapidated condition and need repair or reconstruction. About 8 lakh people stay in such buildings. 300 people have died since 2013 due to building collapses and more than 3,945 accidents have happened in last 6 years.

Redevelopment and Self-Redevelopment are the only viable options for the owners, occupants and tenants of such buildings.

There are around 4.8 Lakh housing units valued at Rupees 4.48 Lakh Crores stalled in Top Seven Cities as per Government of India. Majority of these projects are from MMR and NCR regions which account for 77% of these stalled projects. As of December 2021, MMR alone had about 1.34 Lakh housing units valued at Rupees 1.91 Lakh Crores stuck.

Reviving these stalled projects is extremely important for all real estate stakeholders namely Customer, Financial Institution, more than 300 Ancillary Industries and Government. Initiatives like Special Window for Stalled Housing Projects and Stressed Asset funds like SWAMIH by SBICAP Ventures are steps in right direction.

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Adv. Darsh Dharod, Dr. Adv. Harshul Savla

Dr. Adv. Harshul Savla (MRICS) is a Principal Partner of M Realty (Suvidha Lifespaces) which has successfully completed more than 1.2 million sq.ft. in last 30 years across Mumbai City under the able leadership of Mr. Pramesh Rambhiya. CRISIL India recognized Dr. Harshul as “Young Thought Leader” and Realty NXT featured him as “Young Turk of Real Estate Sector”. He has won the prestigious CREDAI-MCHI Golden Pillar Award in the category of Best Debutant Real Estate Developer and has been awarded “Young Achiever of the Year” by ET NOW, CNN News 18, ZEE Business, MAHARASHTRA Times, ABP News, MID DAY and Realty Quarter. 

Dr. Harshul was awarded Doctorate (Ph.D.) for his Thesis on REITs (Real Estate Investment Trusts) which is first such thesis in India on the said subject and the Thesis is also available in the form of a book. Apart from this he is an NSE Certified Market Professional - Level 4 and has done a course on ‘Strategic Real Estate Management’ from ISB, Hyderabad.

Dr. Harshul is also the National Head of the Committee on E-Learning and Masterclass at CREDAI National.

Dr. Harshul is also an Amazon Best Selling Author and has authored one of India’s most comprehensive books on Real Estate Sector. Some of his books are: ERA Post RERA, Real Estate Laws, Reality of Realty, Real Estate Valuation, Affordable Housing, NBFC & HFC Crisis, Fractional Ownership & REITs, Insolvency & Bankruptcy Code. He regularly writes articles for fortnightly business magazine “Property House”.

Dr. Harshul is also a Visiting Faculty at the prestigious RICS School of Built Environment, teaches the subject ‘Real Estate Development Process’. He is also Guest Lecturer at REMI - The Real Estate Management Institute, Mumbai.