To build about 2,000 affordable houses in Goregaon of Mumbai, the Maharashtra Housing and Area Development Authority (MHADA) plans to utilise nine acres of land, located in front of Hyper CITY.
This may well come as a ray of hope, albeit little, for the affordable housing project in the city, as the land can now be used for creating more residential stock. A MHADA official said that they have started the process of floating a scheme to bring this land under development.
Along with the urban areas, including the cities of Navi Mumbai, Thane, Kalyan, Dombivali and Bhiwandi, it is one of the most populous urban regions in the world. Mumbai lies on the west coast of India and has a deep natural harbour.
Canada's pension fund is ready to invest $2 billion in affordable housing in Mumbai, Maharashtra Chief Minister said, in a move that would boost Prime Minister Narendra Modi's goal of providing cheap housing to millions of people.
"A week back, the Canadian ambassador, informed me that the Canadian pension fund is ready to invest $2 billion in Mumbai for affordable housing," Devendra Fadnavis told reporters.
With Mumbai being the centre of major financial transactions has always been a hot spot of buying property and investing in real estate. With number of Developers like Lodha, Arihant, TATA, Godrej and Hiranandani who have delivered number of High End and Affordable Housing for people of Mumbai. There is no getting around it – Mumbai’s property market is legendary.
Public transport systems in Mumbai include the Mumbai Suburban Railway, Monorail, Metro, Brihanmumbai Electric Supply and Transport (BEST) buses, black-and-yellow meter taxis, auto rickshaws and ferries. Suburban railway and BEST bus services together accounted for about 88% of the passenger traffic in 2008.