MHADA to venture into student hostel, old age home, rental housing sectors

For the first time in MHADA’s history, the housing body will foray into diverse residential solutions such as rental housing, student accommodation among others

MUMBAI: For the first time in the Maharashtra Housing and Area Development Authority’s (MHADA’s) 47-year-old existence, the housing body will foray into diverse housing solutions like rental housing, student accommodation, working women’s hostels, shared units, studio apartments, industrial housing, and old age homes.

MHADA to venture into student hostel, old age home, rental housing sectors

According to MHADA officials, the plan to diversify into spaces other than residential and commercial will be part of NITI Aayog’s plan to make the Mumbai Metropolitan Region (MMR) into a $300 billion Gross Domestic Product (GDP) by 2030, from $140 billion in 2023, and eventually $1.5 trillion by 2047. GDP is a measure of the total value of goods and services produced during a specific duration.

MHADA was established on December 5, 1977, and since then, it has been catering to affordable housing requirements, as well as providing commercial structures in residential areas. Apart from these two elements, it has also been selling plots.

A workshop was organised on Tuesday to outline a comprehensive roadmap for the MMR as a growth hub. “It focused on engaging stakeholders, including private developers and construction professionals, to gather inputs, address challenges, and collaboratively shape solutions,” MHADA’s spokesperson said.

Among the key areas for the transformation plan will be delivery of 30 lakh affordable housing units by 2030, of which 22 lakh units will be completed through rehabilitation of slums and 8 lakh through affordable housing schemes led by MHADA and City and Industrial Development Corporation (CIDCO).

“MHADA’s focus is on innovative housing models that will address diverse population needs. The housing categories such as rental housing, student hostels, shared units, industrial housing, etc., are designed to align with the evolving urban demands of the MMR. Apart from this, cluster redevelopment will play a pivotal role in ensuring optimal land utilisation and creation of integrated urban spaces,” said Anil Wankhede, deputy CEO, MHADA.

The new avenues that MHADA is looking at venturing into will have a mix of multiple models, such as the Authority itself developing these, Public-Private Partnership, engaging private players, etc.

The idea of MHADA constructing the new housing models and handing them over to a private agency for operation and maintenance is also under consideration.

A MHADA official shared that the overall plans to meet NITI Aayog’s goal are in different stages of planning and are being firmed up, prior to moving a proposal with the state government.