MMRDA starts work on 5,500 units of rental housing | mumbai | Hindustan Times
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MMRDA starts work on 5,500 units of rental housing

mumbai Updated: Apr 30, 2010 01:47 IST
HT Correspondent
HT Correspondent
Hindustan Times
Mumbai Metropolitan Region Development Authority

Mumbai Metropolitan Region Development Authority (MMRDA) has begun work on 5,500 rental houses at Dosti Vihar and Akruti in Thane and Neelkamal Realtors (DB Realty) in Mira Bhayandar. It is likely to be completed by next year.

The Dosti Vihar site comprises of 1,345 units in four buildings and 1,078 units in five buildings at Ackruti in Thane, while Neelkamal Realtors at Mira-Bhayander site has 3,035 units in nine buildings.

The objective of the housing scheme is to make available stock of housing in Mumbai Metro-politan Region on rental basis within the affordability limits.

“MMRDA has decided to construct five lakh houses in five years. We have approved 25 Letter of Intent for the construction of two lakh houses,” said Ratnakar Gaikwad, Metropolitan Commissioner, MMRDA. Under the scheme, MMRDA plans to construct five lakh houses to be given on a rent of approximately Rs 800 to Rs 1,500.

Any individual, who has been living in the state for 15 years and has a minimum monthly income of Rs 5,000, can avail a home under the scheme. The Rental housing project is executed on Public Private Partnership basis based on FSI incentive.