Proposal To Rope Private Landowners With MHADA To Implement PMAY Cleared

Under the proposal, cleared by the Cabinet, the MHADA will form joint ventures (JV) with interested private landowners to execute the Centre's flagship scheme of providing low-cost homes to the urban poor.

0
28

Proposal To Rope Private Landowners With MHADA To Implement PMAY Cleared

The Maharashtra government cleared a proposal to rope in private landowners to collaborate with state-run housing agency MHADA (Maharashtra Housing and Area Development Authority) to implement the Pradhan Mantri Awas Yojana (PMAY) in urban areas.

Under the proposal, cleared by the Cabinet, the MHADA will form joint ventures (JV) with interested private landowners to execute the Centre’s flagship scheme of providing low-cost homes to the urban poor, Housing Minister said. Private landowners having more than 10 acres of land are eligible to participate in the scheme, he said.

Read Also: Gaurs Group To Invest Rs 1,000 Cr On 2 Affordable Housing Projects In Delhi-NCR

The MHADA will construct houses for Economically Weaker Sections (ESW) and Lower Income Groups (LIG). Of the total housing units, 35 per cent will be given to landowners and 65 per cent to the MHADA, he told reporters after the Cabinet meeting.

The landowners will have the option to take the housing stock or cash, an official in the housing department said.

Read Also: Buyers Love Budget-Friendly Homes In Well-Connected Locations

JV projects can be taken up in areas falling under all the 382 municipal corporations, councils and Nagar panchayats, the Mumbai Metropolitan Regional Development Authority (MMRDA), the Pune and Nagpur Regional Development Authority (NRDA), the CIDCO, the MSRDC, the Nagpur Improvement Trust and the Navi Mumbai Airport Influence Notified Area jurisdiction, he said.

Such projects will be given an FSI of 2.5, said an official in the Chief Minister’s Office (CMO). Floor Space Index (FSI) FSI is a tool that defines the extent of construction permissible on a plot. It is the ratio of the buildable area to the total plot area.

Read Also: Homes To Become More Affordable MAHA Govt Asked Developers To Sell At RR Rates

In another decision, the Cabinet cleared a proposal to undertake steps to increase bamboo production and create employment opportunities, the CMO official said. A new company will be set up for the purpose, he said.

Source Link- https://www.moneycontrol.com/

LEAVE A REPLY

Please enter your comment!
Please enter your name here