MCHI-CREDAI Petitioned For Change In Land Pooling Model For NAINA Project

The additional land in the 50:50 sharing model, said the developers, will ensure a larger plot which can be developed and used to construct low-cost buildings and will also be easy to maintain.

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MCHI-CREDAI Petitioned For Change In Land Pooling Model For NAINA Project

The Maharashtra Chamber of Housing Industry and the Confederation of Real Estate Developers’ Association of India (MCHI-CREDAI), Raigad unit, has petitioned the state government and CIDCO for a change in the land pooling model for the upcoming Navi Mumbai Airport Influence Notified Area (NAINA) project.

While the NAINA pilot project is in the last leg of being rolled out, the entire project encompasses vast tracts of land in Raigad district.

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The new president of MCHI-CREDAI, who took charge on Friday told instead of the current 60:40 ratio of land share in which 2.5 FSI is available to landowners on the 60% of land after parting with 40% land to CIDCO, we want 50:50 sharing model with 2 FSI. This will ensure affordable housing as is the motto for 2022.

The additional land in the 50:50 sharing model, said the developers, will ensure a larger plot which can be developed and used to construct low-cost buildings and will also be easy to maintain.

The CIDCO model of carving out 40% of the land is for providing infra facilities on 25% and selling the remaining 15% of land for recovering costs of development.

The developer’s body said in the current land model, high-rise buildings are possible but would lead to more construction and maintenance costs. What we are looking at is ground plus 7 model of buildings that will be low-cost, fitted with one lift and hence affordable, but that is only possible with the land development model that we have suggested.

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As per the housing body, high-rise (beyond G+7) construction cost averages at around Rs 2,500 per square foot while the cost of building smaller building works out to be Rs 1,800 per square foot.

The real estate developers body are also planning to meet the new CIDCO chairman, to apprise him of the “workable dynamics’’ of the affordable housing model that would also seek a change in the proposed bylaws for the MMR by the state government.

The developers’ body wants the state government to upgrade the bylaws of municipal councils in the MMR. Currently, the bylaws to be introduced are for areas other than councils and corporation areas, which is the rural area.

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This would lead to the discrepancy in the growth of the housing industry as a less developed area could have more housing space on a plot compared to a developed area under the council areas. Raigad district has several council areas.

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

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