In a statement issued here, Deora alleged that the project might at best help the builders. It will not help the true purpose of rehabilitating slum-dwellers or solving the accommodation problem.

Deora questioned the purpose of having the Maharashtra Housing and Area Development Authority (MHADA) and Bombay Metropolitan Regional Development Authority (BMRDA) pump in Rs 300 crore each as paid-up capital to the SPPL when these bodies were unable to fulfil their responsibilities of repairs and reconstruction of old and dilapidated buildings and providing the infrastructure like bridges, roads etc. on account of resource crunch.

Deora further said that Maharashtra Government having undertaken to stand guarantee for the huge bank loansrequired to fund the SPPL can only end up bringing closer total bankruptcy to the already fund-starved State exchequer. What is worse, the MRCC chief pointed out, the SPPL did not even provide for checks and balances in its working, there were no scrutiny committees to keep vigil of its performance as in the case of MHADA, BMRDA and such other bodies.

This lack of transparency would inevitably lead to questionable things happening in the SPPL, he added.