Owners To Develop Private Land For Cheap Homes MHADA Offers Perks

Maharashtra government will promote affordable housing projects, cheap homes MHADA for Economically Weaker Sections (EWS) and Lower Income Group (LIG) on private lands across the state.

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Owners To Develop Private Land For Cheap Homes MHADA Offers Perks

Maharashtra government will promote affordable housing projects, cheap homes MHADA for Economically Weaker Sections (EWS) and Lower Income Group (LIG) on private lands across the state.

An official from the state housing department said the government is exploring this option to make up the total housing shortfall in Maharashtra, which is to the tune of 19.4 lakh. Under the new plan, 18 lakh houses will be in EWS and LIG categories.

The lands will be selected through a bidding process, conducted by the state-run Maharashtra Housing and Area Development Authority (MHADA) and on certain criteria.

Those with an annual income of Rs 3 lakh will fall in the EWS category, while those make Rs 6 lakh a year will fall in LIG category. People in EWS category will be entitled to 300 sqft homes and those in LIG category will be entitled to 600 sqft flats.

MHADA will issue bids every quarter for the project, and a special clause to maintain transparency in bidding and selection of lands has already been put in place.

The land owner can develop affordable houses under the public private partnership (PPP) model on his own or by roping in developers. “They will be offered a slew of incentives including 2.5 Floor Space Index (FSI), concessional fees in registration and joint measurement of land and subsidy from the Government of India under the Prime Minister Awas Yojana (PMAY). The selection lands will be based on certain parameters, such as that it should be free of encumbrances. Besides, its proximity to a railway station, metro rail station, bus depot, schools and colleges will also be considered,” said an official.

After the selection of the land, the project proposal will be forwarded by the state government to the Centre for subsidy. “The private land owners will benefit as in such bearish market, they can develop their lands with government’s support and subsidy. The rider is that the private land owner needs to construct 100% affordable homes for EWS and LIG,” the official noted.

Source Link- http://www.dnaindia.com/india/report-dna-exclusive-government-to-offer-perks-to-develop-private-land-for-cheap-homes-2565910

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