After pact, 5 lakh affordable homes in 5 yrs, says MCHI
In a bid to construct five lakh affordable houses in the city, the Maharashtra Chamber of Housing Industry (MCHI) will soon enter into a Memorandum of Understanding (MoU) with the state government. The MCHI said it would complete the constructions in five years.
The five lakh homes will be constructed under the state government schemes like the rental housing project by the Mumbai Metropolitan Region Development Authority (MMRDA) and a joint venture by the Maharashtra Housing and Area Development Authority (MHADA). With an area of 180-400 sq ft, these homes will mostly come up in Mumbai Metropolitan Region (MMR) outside Greater Mumbai limits. They will cost between Rs 5 lakh-Rs 25 lakh. The MCHI has said the MoU will focus on asking the state government for a single window clearance to expedite construction of affordable housing stock and related policy changes.
The MCHI has pegged the immediate housing demand in Mumbai at 1.4 million homes, of which 80 per cent is from those get an annual income of Rs 3 lakh to Rs 5 lakh.
We are also looking at proposing a scheme whereby small apartments can be built in Mumbai. As for pricing, once the apartment size itself shrinks to 300 sq ft, it cannot be sold if priced at Rs 15,000 sq ft. We wont put any cap on the pricing. The supply of such homes will keep the prices under control, said MCHI president Pravin Doshi.
He said tardy official clearances delayed several budget homes projects.
Dharmesh Jain, chairman and managing director of Nirmal Lifestyle said, The MCHI at the state level and Confederation of Real Estate Developers Associations of India (CREDAI) at the all India level will be looking at generating affordable housing schemes, Doshi said.
The MCHI would host a three-day property exhibition beginning this Thursday and a convention on Homes for All would be organised later this month . The MOU will be signed in thie convention.
Meanwhile, The MCHI has asked architects to submit their designs for affordable houses. Already 100 of the 500 participating architects have given their designs. The selected design can be used as a model for constructing such projects, said Doshi.
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