MHADA to empanel 'premium' builders for redevelopment.

The state housing authority has decided to maintain a 'premium' list of developers, comprising only those companies having sound finances and at least 10 years of experience in redevelopment works, to undertake its redevelopment projects larger than one lakh sq m.

Large colonies of the Maharashtra Housing and Area Development Authority (MHADA) wanting to opt for redevelopment through it will have to go with a developer only from this premium category, with the contract to be awarded to the lowest bidder.

INDIAN EXPRESS