Redevelopment of 68 LIC-Owned Cessed Buildings Reviewed by MHADA

Mumbai, May 9, 2026:

The Maharashtra Housing and Area Development Authority (MHADA) has initiated a detailed review of the redevelopment process for 68 old and dilapidated cessed buildings owned by the Life Insurance Corporation of India (LIC) in Mumbai.

                                   

A review meeting in this regard was held at MHADA Headquarters, Bandra East, under the chairmanship of MHADA Vice President and Chief Executive Officer Shri Sanjeev Jaiswal (IAS). The meeting was organised by the Mumbai Building Repairs and Reconstruction Board and was attended by senior officials of MHADA and LIC.

 

The redevelopment proposal assumes significance as these buildings are ageing structures located in some of Mumbai’s key residential and commercial areas. The discussion focused on the present condition of the buildings, safety concerns, rehabilitation of existing occupants and the way forward for redevelopment.

 

68 Buildings Across Fort, Girgaon, Matunga and Dadar

 

The LIC-owned cessed buildings under review are spread across prominent locations in Mumbai. These include:

 

39 buildings in Fort

18 buildings in Girgaon

3 buildings in Matunga

8 buildings in Dadar

 

Together, these 68 buildings currently house 1,764 occupants, including 815 residential tenants and 949 commercial tenants.

 

Given the age and condition of these structures, redevelopment has become necessary to ensure the safety of occupants and provide them with improved, secure and planned premises.

 

Focus on Safety, Rehabilitation and Timely Action

 

During the meeting, officials discussed the key aspects of the redevelopment process, including tenant rehabilitation, structural safety, administrative approvals and coordination between the concerned agencies.

 

The redevelopment is expected to provide safer housing and commercial spaces to existing occupants while also improving the overall infrastructure of these old cessed properties.

 

LIC officials informed the meeting that the corporation is keen to redevelop its cessed buildings. MHADA Vice President and CEO Shri Sanjeev Jaiswal assured that MHADA would extend all necessary cooperation to take the redevelopment process forward in a coordinated and time-bound manner.

 

Redevelopment to Benefit Existing Occupants

 

The proposed redevelopment of these 68 LIC-owned buildings is expected to benefit a large number of residential and commercial occupants who have been living or operating from ageing structures for several years.

 

Through this process, MHADA aims to support safer rehabilitation, planned redevelopment and better living conditions for tenants and residents of these cessed buildings.

 

The meeting marked an important step towards preparing a structured roadmap for the redevelopment of LIC-owned cessed buildings in Mumbai.