PMRDA Pune Will Evaluate Developers For Affordable Housing Projects

Pune Metropolitan Region Development Authority (PMRDA) will evaluate developers on a scale of 100 and tie up with those scoring 70% for its affordable housing project under the Pradhan Mantri Awas Yojana (PMAY).

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PMRDA Pune Will Evaluate Developers For Affordable Housing Projects

Pune Metropolitan Region Development Authority (PMRDA) will evaluate developers on a scale of 100 and tie up with those scoring 70% for its affordable housing project under the Pradhan Mantri Awas Yojana (PMAY).

Read Also: 1.92 Lakh Pune Homes Under Construction : Anarock Property Consultant

As part of the plan, the developers can come forward for the projects with land and the authorities will ensure speedy clearances and subsidy for the customers for housing on a public private partnership (PPP) model. PMRDA’s target is to construct around 50,000 houses in the first phase and create a stock of about 2 lakh affordable housing in areas under its jurisdiction.

Earlier, private developers would have to get land and decide their own deadline, price and location for the affordable housing. The government’s new initiative will see municipalities or authorities tying up with developer to take forward the project.

Read Also: Pune Municipal Corporation To Build 3,500 Houses Under PMAY

If a developer meets criteria, authority will get in to a tie-up for the affordable housing project. They will design the structure and PMRDA will ensure that all necessary permissions and zone conversions are issued within 30 days, PMRDA commissioner said.

For the evaluation, process, PMRDA has asked the developers to forward their proposals by March 6. They developers will be assessed on land availability (minimum 2 acre), location of the plot (close to roads, Metro and accessibility), water provision, closest electric substation and the developer’s financial capacity.

Read Also: PMRDA Pune Hopes Boost To Affordable Housing Through PPP Model

Officials said the size of the houses will be decided by the PMRDA and around 50% of the units constructed will be as per the Maharashtra Housing and Area Development Authority (MHADA) formula and the rest will be modelled on the regular calculations.

CREDAI-Maharashtra president said many developers will be interested in the project and a workshop on it was conducted by the PMRDA a fortnight ago.

Source Link- https://timesofindia.indiatimes.com/.

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