The Maharashtra Housing and Area Development Authority (Mhada) is all set to sign a memorandum of understanding (MoU) with the University of Mumbai on Monday to academically enrich itself as well as streamline its functioning.
The Hindustan Times was first to report this on September 22, 2010, on the MoU, which would be designed on the lines of that of the Singapore’s Housing and Development Board and New York City Housing Authority which have similar partnerships with various universities.
Abhay Pethe, director, Economics Department, University of Mumbai, called it a synergy between the two outfits. “We will able to evaluate and provide inputs in crucial matter which Mhada could not undertake due to paucity of both resources and time. Similarly my students would get first hand information on the housing sector,” said Pethe.
The MoU, which would have a three-year tenure, would have Mhada officials to guide the students and also brainstorm ideas with them. The students, in turn, will get to intern with Mhada, conduct surveys and get an idea of practical problems facing the housing board.
In recent years, Mhada is the only organisation providing
low-cost flats in the city, which command the highest realty price across the world. Since land bank is depleting, the main challenge before the Mhada to come up with innovative ideas to boost the housing stock.