MHADA To Approach Private Landowners To Raise Houses Under PMAY

Owners who agree to provide land parcels for the Pradhan Mantri Awas Yojana (PMAY) will be paid either in cash or a certain number of houses that will be constructed on their plot, which they can put up for sale to recover the land cost.

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MHADA To Approach Private Landowners To Raise Houses Under PMAY

The Maharashtra housing authority, which is scouting for land to execute the Pradhan Mantri Awas Yojana for providing affordable homes to the urban poor, is thinking of approaching private landowners and cut them a deal in exchange for plots to raise houses.

Senior officials from the Maharashtra Housing and Area Development Authority (MHADA) said owners who agree to provide land parcels for the Pradhan Mantri Awas Yojana (PMAY) will be paid either in cash or a certain number of houses that will be constructed on their plot, which they can put up for sale to recover the land cost.

Read Also: PMRDA Pune To Construct 6,415 Low-Cost Houses, PPP Basis By 2020

Apart from this, MHADA has asked all municipal corporations in the state including Mumbai to inform it every time they receive a building proposal for land more than 4,000 square meters in an area because the housing authority is allowed to purchase 20 percent of homes raised under such a project.

The homes in both the segments, on private land procured by MHADA as well as in a developer’s project will be linked to PMAY.

A senior MHADA official associated with PMAY said, this could be termed as a joint venture scheme with private landowners and it is only in the discussion stage. If the landowner chooses to be compensated with homes that MHADA will construct on the plots they provide, the proportion could be 80:20 or 60:40, depending on the project.

Read Also: Mumbai Affordable Housing, 783 Houses For MHADA Lottery 2018

Referring to builder-backed projects, MHADA secretary said, under government rules, construction projects on land measuring 4,000 sqm and more are obliged to sell us 20 percent of the homes. We have asked the Brihanmumbai Municipal Corporation (BMC) to intimate us when such proposals come in. These homes will be bought at ready reckoner rates from the developer.

MHADA clarified that it will not blindly purchase a fifth of the homes from developers who propose such large-sized constructions. They will decide whether to buy the homes or not on the basis of factors like feasibility and location of the project. One such proposal is already under consideration at MHADA’s Pune board.

Read Also: CAG Pulled MHADA For Fixing Sale Of Tenements On RR Rates

The centre and state jointly provide a subsidy of Rs 2.5 lakh for each PMAY home which is 30 sqm in area.

Source Link- http://www.dnaindia.com/.

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