The Saifee Burhani Upliftment Trust (SBUT) is implementing the project, while the Maharashtra Housing and Area Development Authority (Mhada) is the planning authority.
"We will adopt a time-bound programme around six months to speed up the pending activities on the Bhendi Bazaar project," Mhada Vice President and CEO Milind Mhaiskar said after reviewing the progress of the work.
He further said the certification of the balance buildings would be fast-tracked and it will expedite the clearing of pending appeals.
He also assured that Mhada will work closely with SBUT to tackle non-cooperating tenants who refuse to vacate the premises despite being provided with alternative accommodation by the trust.
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"Evacuation of the balance families and demolition of the dilapidated buildings will begin before the coming monsoon," Mhaiskar said.
Currently the trust has vacated over 2000 tenants from Bhendi Bazaar. The construction of sub-clusters one and three is in full swing, SBUT said in a statement issued here.
It is expected that over 600 residential and 250 commercial establishments will be rehabilitated in these sub-clusters within two years. The master layout plan has been approved for all the sub-clusters.
The three properties, which were auctioned today were owned by Dawood, are Hotel Raunaq Afroz, also known as Delhi Zaika, Shabnam Guest House and six rooms in Damarwala building.