State Govt. of Maharashtra to fund housing for the poor

By Pallavii Pitale

The recent government resolution of the Housing Department has stated the need of funds required to develop more shelters for the poor in the urban as well as rural areas.

Recently it has been surveyed that about 27,00,000 of families are living in slums of urban Maharashtra without any basic amenities. whereas about 6,00000 families are homeless in rural Maharashtra.

To boost the housing development for the poor, the State Government of Maharashtra has announced a separate fund for financing various housing schemes for the financially weak, medium and low income group people in the state.

Maharashtra Niwara Nidhi as the fund has been termed, shall have the fund share of about 300 crores from MHADA as well as Rs. 100 crores from the state government as the seed money. The funds will have 50% of it’s earnings from redevelopment of MHADA colonies with new FSI of 2.5% and shall also gain it’s major resources from MHADA’s Slum Rehabilitation Scheme revenues.

The funds are more likely to be utilized to finance housing projects like Slum Rehabilitation Schemes, Housing Cluster Redevelopment and Redevelopment of Dilapidated and Ruinous Buildings in various urban as well as rural settlements and especially to help projects that are not being undertaken by anyone for redevelopment.

The fund will also provide viability gap funding ( VGF ) for various housing and slum rehabilitation projects with private partnership. It will also add Maharashtra’s share to develop Central Government’s various schemes of housing for the poor like Rajiv and Indira Awas Yojana as well as Jawaharlal Nehru National Urban Renewal Mission.

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2 thoughts on “State Govt. of Maharashtra to fund housing for the poor

  1. We are the real estate developers. We want to avail finance for development of slum redevelopment projects. Are we eligible for the above scheme? If yes, then whom shall we approach. Kindly advice.

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