MHADA to tie up with pvt players to meet affordable housing target

india-south-korea-sign-10-billion-funding-agreement-for-infra-projectsBy Accommodation Times Bureau


The Maharashtra Housing and Area Development Corporation (MHADA) is planning to speed up the construction of affordable housing project in the state by tieing up with private builders or developers with the help of public-private partnership (PPP) models.

The MHADA is also offering attractive proposal to attract builders. It offers floor space index (FSI) of 2.5 in lieu of reserving 50 percent of houses in the project for lower income groups (LIG) and economically weaker sections (EWS). The builder will also be entitled to the concession in development charges and subsidy of Rs 2.5 lakh per each such flat.

Milind Mhaiskar, Vice President and Chief Executive Officer of MHADA, said, “Next week we will call for Expression of Interest from private builders regarding their projects. We expect to get a good response in Mumbai Metropolitan Region and in major cities like Pune, Nashik, and Nagpur, among others.”

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