MHADA brings 10,000 houses on the block this year


mhada building

By Accommodation Times News Service

Mhada on Monday has approved one of the highest budgets in the past many years said, S.S Zende, Vice President, Mhada. He said, “Recovery of our pending payments has been very strong in the past one year, with officials taking stock of the dues in every head of department meeting. The momentum is expected to continue in the coming year, and is a major reason for MHADA to be able to approve a surplus budget. This is also the first time in eight to ten years that the authority has approved such a large budget.”

He added that the authority would present a supplementary budget sometime in May to allocate funds for the redevelopment and repairs of buildings built under the Prime Minister’s Grants Project, for which MHADA has currently allocated Rs 25 crore. “The revenue department is yet to transfer many of these buildings in MHADA’s name, and till that happen we cannot budget for works on the building,” Zende said. For 2016-17, MHADA has projected receipts of Rs 6,508.19 crore and an expenditure of Rs 5,420.48 crore, leaving the authority with a surplus of Rs 1,087.71 crore. For 2015-16, MHADA’s revenue receipts were Rs 3,160.55 crore, against an expenditure of Rs 3,695.32, leading to a deficit of Rs 534.77 crore.

The authority secured occupation certificates for all houses sold as part of its annual lottery under its Mumbai board in 2015-16, and started giving possession and collecting full payments, resulting in a collection of Rs 1,200 crore from its home sales across the state, a MHADA official said. “In 2016-17, we expect to earn Rs 3,500 crore from across the state through home sales, especially from houses built in the Pune and Konkan regions, “he added.

The authority also plans to bring 10,000 more houses for sale through its Mumbai and Konkan boards, and has set aside Rs 257.90 crore for purchasing and developing additional land to increase its land bank, keeping in mind future needs. It has also allocated Rs 3,900 crore to build affordable houses under the Union government’s Pradhan Mantri Awas Yojana for its ‘housing for all’ initiative, which the BJP-led Maharashtra government has approved for implementation in 51 cities of the state.

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