Mhada nets Rs 3.85 crore in rent arrears within a month

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Owners and tenants whose dues were pending for long periods were offered a 60% rebate on interest. Inhabitants of Mhada's transit camps owe Rs 130 crores in rent arrears.

In a significant recovery, Maharashtra Housing and Area Development Authority (Mhada) has received Rs 3.85 crore in rent arrears from residents of its transit camps during the month of February.

Owners and tenants whose dues were pending for long periods were offered a 60% rebate on interest.

The scheme yielded rich dividends as several chose to pay up.

Inhabitants of Mhada's transit camps owe Rs 130 crores in rent arrears.

On February 3, the housing board launched this 'Abhay Scheme' in view of the economic crisis that had engulfed citizens in the wake of the Covid-19 lockdown.

Under the plan, Mhada's Mumbai repair and reconstruction board announced a 60% interest rebate for residents of its 21,149 transit camps.

The first phase which ended February 28 netted a robust sum of Rs 3.85 crore, said board chairman Vinod Ghosalkar.

The second phase of the scheme offers 40% reduction in interest to those who pay up their rent arrears by March 31.