Published On: Wed, Jun 22nd, 2011

Upsurge in Demand for Affordable houses in metros

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Pune: As hike in interest rate and increasing prices of properties forced to home buyers setback, but forthcoming projects of Maharashtra Housing and Area Development Authority (MHADA) in Pune and outskirts of city bring back hope for buyers. Increase in affordable houses in Pune, Pimpri and Chinchwad the state government has given an in-principle nod for 2.5 floor space index for housing projects launched by MHADA. FSI is not only for launched projects but upcoming projects too. In Pune, Pimpri and Chinchwad there are 15 new projects has been developed by the state. According to the senior officials “the extra FSI of 1.5 for will redevelopment of houses lead to the several thousands of affordable housing.”
For every hectare, around 500 houses, each with an area of 400 to 450 sq ft, can be built for the low-income group. Around 400 houses, each with an area of 600 to 700 sq ft, is possible for the middle-income group.
According to the Rajendra Nimbalkar, chief executive officer of Pune Housing and Area Development Authority said “ in Yerawada there would be possibility of 10000 to 15000 houses to be built. Whereas in Yerawada approx 3000 residents at present and the upcoming houses around 10000 to 12000.”
Nimbalkar added that “the proposal for extra FSI 2.5 for MHADA housing projects in Pune, Pimpri and Chinchwad are still pending from couple of years, but Chavan has declared that soon additional FSI proposal will be approved.”

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