Maharashtra has come out with a redevelopment policy for old buildings to prevent tragedies such as one at Bhendi Bazaar on August last week in which 33 lives were lost.

Under the policy the government will allow incentive floor space to builders who take up redevelopment of tenanted buildings in the suburbs, which are identified as unsafe.

The incentive area will be equivalent to 50 per cent of the floor space used for rehabilitation.

Two decades ago a committee headed by former bureaucrat Dinesh Afzalpurkar had made a recommendation to allow higher floor space to fasttrack reconstruction of old buildings in the suburbs.

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