The Government of Maharashra to set regulatory authority for Affordable housing

By Pallavii Pitale
The real Estate prices in Mumbai have reached sky high, making the housing properties of Mumbai, beyond the reach of the common man.
Government provides affordable housing through MHADA and CIDCO which is not enough for the growing needs for such housing. The Housing policy ( 2007 ) of the state had made 20 % mandatory reservation for affordable housing in all the projects. So far it was an optional case for the builders. In spite of offering incentives on such projects, It has been observed that Affordable housing projects are being developed by the private builders only in the areas outside Mumbai. The developers are giving the reason of the extremely high land prices in Mumbai, for not developing such projects within the city limits. They have been offered to build affordable housing if government allots them land at concessional rates.
The builders have been asked to develop affordable housing projects. Failed to do so, the Government would bring in a legislation for constructing affordable houses which would help to control the property rates in the city.
The government is planning to set up a regulatory authority for housing within the monsoon session of legislature. Once the system is set, the buyers shall be charged based on the carpet area of the property. An amendment in the Maharashtra Region and Town Planning Act would be done by the government, in order to mitigate the effects of government notification charging premium on extra FSI of 0.33% in the suburbs that was stroke down by the Mumbai High Court.

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One thought on “The Government of Maharashra to set regulatory authority for Affordable housing

  1. we are hearing about this regulatory authority being set up since 2006 but nothing has come out so far. ministers keep changing. new babus are helpless.elections come. sops are given to slum dwellers. society is shown the carrot of deemed conveyance. flat buyers are promised carpet announcements are made by housing secretary,housing minister,chief secretary,chief minister over tea,peda and samosa. the media laps it up. there is no follow up. after 4/5 years either bmc/state elections are nearing and the same rubbish is recycled.

    buyers and flat owners will remain where they are and get cheated by builder mafia bcos they fund party/elections. poor buyer takes a loan and till he/she dies they keep paying emis to banks and his/her frustration is seen in the local trains where he/she picks up fight with his/her co passenger for a 4th seat. those who dont have the energy to fight they sing bhajans till churcgate/vt and on return journey and pray to the god to save them. even now god is afraid of politicians and builders and seeks donations from them for setting up their abodes so that public can worship them.

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