India, April 6 -- The long-pending redevelopment of LIC-owned buildings in South Mumbai listed as "dangerous and dilapidated" has gained momentum after cabinet minister Mangal Prabhat Lodha met union finance minister Nirmala Sitharaman in New Delhi last Thursday and raised the concerns of 10,000 affected tenants. A formal letter submitted by the LIC Tenants and Occupants Welfare Association (LTOWA), urging urgent intervention to fast-track redevelopment and ensure the safety of residents, was also submitted to the minister.

Hundreds of families continue to live in unsafe conditions in several LIC- and Dena Bank-owned buildings across South Mumbai, many of them nearly 90 years old. A total of 25 cessed buildings of LIC are under the C1 ca...