MUMBAI: According to a report by the CAG, many developers involved in redevelopment initiatives nearly 25 years ago have retained transit tenements provided by Mhada, as of March 2022.
The audit indicated that Mhada distributed 3,357 transit tenements to 43 private developers. These developers were required to pay one year of rent in advance, along with a three-month security deposit at the time of receiving the tenements.
The audit findings stated, “Out of the 43 private developers, only three have settled their outstanding dues, leaving Rs 261.14 crore still owed by the remaining 40 developers as of March 2022.”
