Mumbai, Aug 14 (PTI) As over 550 families got possession of their new flats under the BDD chawl redevelopment project in Worli, Maharashtra Chief Minister Devendra Fadnavis on Thursday urged them not to sell their properties and preserve them as "gold" to be passed on to the next generation.

Speaking at an event after handing over keys of new homes to 556 eligible residents, Fadnavis noted BDD (Bombay Development Directorate) chawls (buildings divided into small rooms) were not just low-cost housing units, but a witness to the history of Mumbai's social and economic transformation.

Recalling the hurdles faced while undertaking the redevelopment project, which turned chawls, housing Marathi-speaking people working in Mumbai's mills and factories in single-room dwellings, into modern homes in high-rises, he said there were litigations as old as 90 years.

A major hurdle, Fadnavis pointed out, was the expectation that a real estate developer will redevelop the BDD chawls located in Worli, central Mumbai.

He said four to five plans were prepared by different real estate developers, but they were only interested in saleable area.

Fadnavis said in his first term as chief minister (2014-2019), the state government decided that state-run Maharashtra Housing and Area Development Authority (MHADA) will manage the redevelopment of the chawls.

Global tenders were floated following which contractors were hired for rebuilding the BDD chawls and transforming them into modern homes.

The ground-breaking ceremony of the mega project was held on April 22, 2017, Fadnavis recalled.

"Earlier it used to be gold that would be passed on to the next generation. The (property) rates in Mumbai are equal to the price of gold. It is this house that we need to give to the future generation," Fadnavis said while addressing the new home owners.

On the occasion, Deputy Chief Minister Ajit Pawar urged Fadnavis and his second deputy, Eknath Shinde, who holds urban development and housing portfolios, to add a clause in agreement to ensure the residents are not able to sell the new houses for 10-15 years.

This way Marathi manoos (Marathi-speaking people) will stay put in Mumbai, Pawar said. PTI PR RSY

Restriction on resale proposed to preserve community in chawl redevelopment, adding a long-term sale prohibition clause. The BDD chawl redevelopment is being executed under public authority management following private-sector reluctance, involving contractor procurement and transfer of possession to eligible residents. A key operative policy proposal is insertion of a long-term resale restriction clause in allotment agreements to prevent beneficiaries from alienating their new flats for a prolonged period to preserve community residency.