There’s good news for those wanting to buy an affordable home in the vicinity of Mumbai. The Maharashtra Housing and Area Development Authority (Mhada) is planning to build low-cost houses on 200 acres of land in Panvel, currently in possession of the Maharashtra State Road Development Corporation (MSRDC).
The authority has identified two plots of land, 100 acres each, at Lodhavali and Adai near Panvel, for the purpose. It will build townships on the plots and could create 30,000 houses, Mhada officials feel.
“As a government body, Mhada gets a Floor Space Index (FSI) of 2.5, so the land can easily generate 30,000 houses of 484 sq ft each,” said a Mhada official who did not wish to be named.
Confirming the developments, Mhada CEO Satish Gawai said, “The project is at the planning stage.” Mhada has, for decades, been building affordable houses in Mumbai but has run out of land within the city’s limits. It had been on the lookout for land near Mumbai.