Friday, 30 October 2015

Government Of Maharashtra To Use No Development Zones To Develop More Affordable Housing Projects in Mumbai

It is a well know fact that staying in Mumbai can cost you a fortune, as the rate of properties in Mumbai always go high. One of the major factors that adds to this highly expensive real estate market is the mismatch ratio of high population in the city to the actual area for residential complex. To overcome this hurdle the government of Maharashtra has considered opening up land parcels under the no development zones as well as plots belonging to Indian Defence personnel in the effort to construct affordable houses in Mumbai.

As per Prakash Mehta the blueprint for affordable housing in Mumbai would be ready soon and if required they might also look into salt pan land, defence land, airports authority and BPT(Bombay Port Trust) for this mega project. The minister also stressed on the fact that there is a huge demand for affordable housing in the country’s commercial capital.

For this mega housing project, the land is spread over an area of 350 acres that would mainly focus on the eastern coast, under Bombay Port Trust’s control. According to Mehta, Maharashtra government has entered into an agreement with the Ministry of Defence that will allow land under its control in Mumbai to be used for mass housing project.

At the inauguration of MCHI's property exhibition in Mumbai he added, "For this purpose, we will be using the defence land that has been encroached upon by slum dwellers. In exchange of this, we will allot them land in other parts of Maharashtra." He encouraged developers who drew his attention to high taxes and development levies, to develop more affordable housing projects in the city.  

As per Mr Mehta, "We need 11 lakh affordable houses in Mumbai, and we would like to get your (builders') support on this. We need these houses within Mumbai and not in Mumbai Metropolitan Region. We will take care of MMR (for affordable housing), you focus on Mumbai.” He was referring to developer’s suggestion that they will be able to build affordable houses in Mumbai Metropolitan Region that includes areas such as extended suburbs of Vasai, Virar, Badlapur, Ambarnath. Mehta said he hoped to get a commitment within a month from developers to build affordable houses in Mumbai. 

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