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Private developers in Mumbai will build 90 % of 11 lakh affordable homes

27 Apr 2015

Maharashtra state government has set the target of providing 11 lakh affordable houses  in the Mumbai Metropolitan Region (MMR) by 2022, More than 90 per cent will come from private developers. Nearly 44 per cent of the total houses would have a larger carpet area ranging from 600 sq ft to 800 sq ft and above according to the yet-to-be released draft housing policy which states that its main thrust would be creation of homes for those from the economically weaker sections, low and middle income groups.   mumbai affordable houses numbers   A major chunk of the promised affordable homes, that is 7.9 lakh, are proposed to come up in Greater Mumbai while the remaining would be mainly in Thane, Navi Mumbai, Mira-Bhayander, Vasai-Virar and Ulhasnagar areas of MMR. Of the total houses in Mumbai, merely 75,000 will be built by Maharashtra Housing and Area Development Authority (MHADA) and sold at affordable rates. The rest is proposed to be created by private developers, where the prices would be determined by market forces. A large portion of the proposed homes in Mumbai are to expected through Slum Redevelopment Authority (SRA) schemes which is estimated to yield 2.34 lakh homes over the next seven years. Of this, 1.38 lakh homes will be for rehabilitating the existing slum residents. The policy is expected to be released soon and has set a target of creating 19 lakh homes across the state by 2022. Also check Current status affordable housing in gurgaon

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