Incentives for Rental Hosing will be reduced: UPS Madan


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By Accommodation Times News Service

The rental housing scheme which was initiated 6 years back in 2007 to decongest the city Mumbai is finally taken the curtains off as Maharashtra government is all set to revive it.

Chief Minister Prithviraj Chavan has said go-ahead to replace the scheme with an affordable housing model where houses will be allotted on ownership basis to various categories of individuals. Patron journalist and real estate expert Shri Murari Chaturvedi says, “rental housing is the only way to affordable housing as today prices are so high one cannot buy a home”.

Chavan said the decision to revive the scheme has been done after long recommendations by the high level of committee which had founded the scheme. The state government is planning to issue a notification in this regards.

To get more light on the rental housing schemes current status Accommodation Times interviewed the Metropolitan Commissioner, MMRDA Shri UPS Madan


Q1. The rental housing scheme is revived, what about the tenement size?

Ans. We have relaxed the tenement size stage wise. Under the new model participating developers or land owners will be eligible for a floor space index (FSI) of 3 as the high level panel had found that a higher FSI was undesirable in several areas. The relaxation will be accordingly done with the stage wise as the work should not be get stuck anywhere financially.


Q2. The incentive part is pinching the builders?

Ans. The people who got the commencement certificate will have to remain with the previous FSI and the one who applied now will get the FSI according to new scheme.


Q3. If incentives get less, how will the applicants get fit?

Ans. The discussion’s result was that the FSI was high unnecessary.


Q4. What is the status of the project affected people?

Ans. We have taken good care of them, the affected who had eligible evidence have been shifted to properly and the one who are left out is also be being given shelter. The local municipal corporation and the state government will equally share the remaining 50% to accommodate various category of individuals including project affected people (PAP) and transit camps and staff quarters.


Read full interview on FSI, Rental Housing, Regional Plan , Hiranandani in the latest edition of Accommodation Times…

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