12,000 more low-cost homes by end of 2010 | india | Hindustan Times
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12,000 more low-cost homes by end of 2010

india Updated: Feb 21, 2009 01:46 IST
Gigil Varghese
Gigil Varghese
Hindustan Times

If you don’t strike gold in the upcoming lottery for MHADA’s affordable flats, you need not despair.

The Maharashtra Housing and Area Development Authority (MHADA) has promised another 3,170 low-cost flats by the end of the year.

These flats are coming up in prime areas like Powai, Ghatkopar, Mankhurd and Sion.

“This time, we will concentrate on economically weaker sections and mill worker housing as the Centre has approved Rs 1.65 lakh and Rs 2.10 lakh per house respectively under the Jawaharlal Nehru National Urban Renewal Mission,” said Amarjit Singh Manhas, chairman of the housing board.

A total of 12,000 flats will be up for grabs by the end of 2010, and another 12,000 by the end of the following year, MHADA has promised.

These projects will also include housing for mill workers on the 11 mill land properties acquired by the authority.

Meanwhile, 70 existing MHADA projects have been granted permission for redevelopment.

They will be rebuilt with a floor space index (FSI) of 2.5, upped recently from the earlier FSI of 1 in the suburbs.

FSI is an indicator of how high a developer can build on a plot. An FSI of 2 means the total constructed area of a building can be twice the area of the plot on which it is built.

Anticipating the higher FSI, many MHADA complexes had put off their revamp plans, leading to a complete freeze on redevelopment since 2005.

The Mumbai housing board presented a budget of Rs 2,974 crore on Friday, with a deficit of Rs 38 crore.