Senior officials of Mhada and MSRDC will on Wednesday undertake a joint inspection of the 200 acres of land identified by the housing authority for the purpose of building low-cost houses.
According to an official, the project would work out favourably for both parties as the road development authority has the land and Mhada the money and competence to undertake a project of such magnitude.
Modalities of how the MSRDC is to be compensated for the land are currently being worked out.
The Maharashtra Chambers of Housing Industry (MCHI) has welcomed the initiative. "If Mhada comes to these areas, infrastructure would develop immensely," said Manohar Shroff, secretary, MCHI (Navi Mumbai).
He said there is currently a huge market for affordable homes, and there would be no problem in selling the apartments.