By Accommodation Bureau
In a move to provide low-cost housing to urban poor, the state government on Wednesday cleared a scheme to cable the private landowners to merge with MHADA for PMAY.
Housing Minister Prakash Mehta said MHADA will form joint ventures with private landowners for providing low-cost homes to urban poor. He further added, “Private landowners having over 10 acres of land are entitled to participate in the scheme.”
MHADA will keep 65% of the total units and landowners 35%, an official said.
Mehta said Joint Venture (JV) projects can be taken up in areas coming under all the 382 municipal corporation, MMRDA, CIDCO, etc.
“Such projects will be given an FSI of 2.5,” according to the agency. The Cabinet has also cleared a plan to increase bamboo production, official said.
Joint venture. … With individuals, when two or more persons come together to form a temporary partnership for the purpose of carrying out a particular project, such partnership can also be called a joint venture where the parties are “co-venturers”.