Slum Redevelopment In Mumbai Gets A ‘Faith’ Boost

A tenant handing over her keys to Omkar’s Managing Director Babulal Varma

Sane Guruji Nagar slum residents set new SRA record for voluntary key handover. 700 eligible tenants jointly commit key handover for 2-acre spread SRA project at Saath Rasta to Omkar Realtors
In a landmark development signalling the strengthening of trust quotient between slum tenants and a private developer, over 700 eligible tenants of Sane Guruji Nagar CHS, Saath Rasta, Mumbai, committed to simultaneously handover the house keys to Omkar Realtors & Developers for redeveloping the 2-acre slum pocket under the SRA scheme.
The 700-strong slum community post the formal commitment collected 2-year advance rental payments offered by Omkar on April 5, 2016 in Mumbai. The Sane Guruji nagar slum pocket has 950 slum tenements, out of which 825 currently enjoy eligibility status.
In the SRA record books, this is a first-ever case of voluntary mass handover of keys for redevelopment to a private developer. The slum residents of South Mumbai’s Sane Guruji (B) Committee Seva Sangh resolved to hand over their existing tenements en masse to enable time-bound delivery of rehab units and eliminate any roadblocks in the evacuation, rehabilitation and construction process under the state government’s SRA scheme.
Omkar Realtors, currently the market leader in SRA vertical, simultaneously advanced 2-year advance rental payments to all 700 slum tenants and additional compensation to aid shifting formalities. Beginning immediately, the slum pocket would conclude the evacuation process within a span of approx. 30 days.
According to Ramesh Ambokar, Chief Promoter of Guruji (B) Committee Seva Sangh Cooperative Housing Society, “Slum redevelopment in Mumbai has been experiencing a lot of unwarranted conflicts between tenants and developers. We wanted to ensure a highly transparent and speedy engagement with a private developer who has a committed track record and bestow our trust full
Kaushik More, Director, Omkar Realtors & Developers stated “The record key handover is a major progressive development not only for Omkar but for the SRA industry. This also reflects upon the fact that the SRA vertical is maturing and brands who have delivered will win the trust quotient of slum tenants”.
Omkar Realtors leads the slum rehabilitation market in Mumbai having rehabilitated more than approximately 40,000 slum tenants across the city and is currently working towards rehabilitating additional approximately one lakh slum dwellers over the next 3-4 year horizon. The record key handover event was presided over by Omkar’s Managing Director Babulal Varma and Rajiv Agrawal, HOD of Property Affairs division.