Dinesh Kamath's news item 'MHADA to come up with low-cost houses for Navi Mumbaikars' that was published in Newsband

MHADA to come up with low-cost houses for Navi Mumbaikars

By Dinesh Kamath

The Maharashtra Housing and Area Development Authority has come up with its joint-venture schemes with builders. It can generate 40,000 low-cost houses through this model. For this purpose, MHADA has doubled its budget to Rs. 200 crore from Rs. 100 crore last year.

As per this scheme, the private landholders or builders will construct and hand over apartments to the housing body in return of incentive floor space index (FSI).

MHADA will be in a position to build at least 40,000 houses if the scheme is implemented speedily, and that too with minimal cost. In this scheme, MHADA pays only the construction cost of its buildings to the developer.

According to the information given by Manohar Shroff, secretary, Maharashtra Chambers of Housing Industry (Navi Mumbai), this scheme shows great promise. This scheme will benefit people of Navi Mumbai and Thane particularly.   

MHADA has also started buying land in some of the emerging markets for constructing low-costs houses.

On Thursday, MHADA unveiled its Rs. 4,898-crore annual budget, in which it sanctioned 2,736 affordable houses for the city.

Regions like Thane, Navi Mumbai and Raigad will be the beneficiaries. MHADA has earmarked Rs. 2,742 crore for both the purchase of land and construction.