India, Sept. 30 -- The Maharashtra Housing and Area Development Authority (Mhada) has decided to undertake the cluster redevelopment of Pratiksha Nagar in Sion on its own, rather than handing the project to a private developer, thereby retaining control of the 25-hectare layout and the additional housing stock generated through the redevelopment.

In a first for the housing authority, Pratiksha Nagar will be redeveloped through the Engineering, Procurement and Construction (EPC) model, according to officials aware of the developments. Under this arrangement, Mhada will remain responsible for the project and hire a contractor to construct the buildings for a fixed fee.

This marks a departure from the Construction & Development Agency (C&D...