State govt to buy unsold flats from private developers

By Accommodation Times Bureau

MUMBAI

In order to expedite the much-touted Pradhan Mantri Awas Yojana and achieve its target of building 19 lakh homes in the entire state, the state government has planned to buy unsold flats at reasonable rates directly from private developers. These flats were not being sold for a very long time and failed to attract buyers due to its high rates.

The state has planned to buy these homes at reasonable rates and sell them at affordable prices. These flats will come under the PMAY scheme that will be sold by the Maharashtra Housing and Area Development Authority (MHADA) considering the demand for the houses.

While beneficiaries of the PMAY scheme may have their reservations for buying these flats,  the state will make sure that the quality of the construction is up to the mark even if they are offering it at a lower rate. A senior official said that a team of experts will be appointed to confirm the quality of these flats. He said, “We are working on this idea and will soon come up with the execution strategy.”





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