The self-redevelopment model pioneered by the Mumbai District Central Cooperative Bank (MDCC Bank) has gained national recognition, with a high-level delegation from the Delhi Government visiting Mumbai to study the cooperative-led initiative for possible replication in the national capital.
The delegation held detailed discussions with officials of the Maharashtra Self-Redevelopment Authority and MDCC Bank to understand the framework that enables cooperative housing societies to independently undertake redevelopment with institutional financial support.
The team also visited completed and ongoing self-redevelopment projects and interacted with society office-bearers and residents to gain first-hand insights into the model.
Officials explained that MDCC Bank spearheaded the initiative by conducting awareness programmes in more than 1,600 cooperative housing societies across Mumbai, facilitating access to finance and supporting societies throughout the redevelopment process. Recognising its pioneering role, the Maharashtra Government subsequently appointed the bank as the nodal agency for implementing the self-redevelopment scheme.
Leading the delegation, Eda Raja Babu, IAS, said Delhi is exploring the adoption of the successful cooperative housing model to redevelop ageing and dilapidated residential buildings in the capital.
He also invited Maharashtra officials to make a detailed presentation before the Delhi Government as part of the state’s evaluation of the model.
