With a view to providing affordable housing, the state government is set to unveil the new housing policy on Friday.
The policy will focus on the redevelopment of old buildings and slums, revamp of BDD chawls and MHADA colonies and utilisation of salt pans. It will also give impetus to mass housing schemes.
It plans to incentivise Floor Space Index (FSI) for government agencies and builders to fulfil the aim of ‘housing for all by 2022’. The current requirement is of 25 lakh affordable houses across the state, of which 11 lakh are in Mumbai and its suburbs.
According to Ravindra Waikar, state minister for housing, the policy will focus on affordable houses. “We have attempted to remove impediments from the previous housing policy so that the real estate sector gets the boost it requires,” said Waikar. “It is risky for residents to live in old dilapidated buildings and rickety structures. The policy aims at easing the revamp process significantly,” he added.
Last year, the state government had announced its intention to construct 19 lakh affordable houses by 2022. However, faced with the slowdown in the real estate sector and red-tapism, many felt that it was an unrealistic target.
Builders welcomed the new policy. “Projects in the affordable housing sector have been stalled due to a lack of regulatory clarity. To meet the vision of housing for all by 2022, the state government is expected to deliver on substantially easing regulation and passing policies to spur supply,” said Rohit Poddar, Managing Director, Poddar Housing and Development Ltd.
The real estate sector has been plagued by a slowdown. Builders have long been seeking relief from the government.
25 lakh affordable houses needed
According to surveys, there is a requirement of 25 lakh affordable houses across the state. Of these, 11 lakh houses are required in Mumbai city and suburbs. There is a need for another 5 lakh houses in the rest of the Mumbai Metropolitan Region. The remaining 9 lakh homes will required in other parts of Maharashtra.
Last year, the state had announced 19 lakh houses by 2022. However, the target was deemed unrealistic.
The government is planning to tap sources such as the Slum Rehabilitation Authority.
It plans to revamp old buildings and BDD chawls, salt pans and MHADA colonies to generate affordable houses
It will also sanction its own land for this purpose.