Those of you looking to buy a flat within Mumbai city limits may now be able to afford one. The state government’s decision to involve the Maharashtra Housing and Area Development Authority (Mhada) in housing projects in the Coastal Regulation Zone (CRZ) areas is expected to yield around one lakh affordable homes in the city.
And for those looking for smaller-budget homes in Navi Mumbai, the City and Industrial Development Corporation on Wednesday launched an affordable housing scheme at Ulwe, near Belapur. This will put 1,344 flats in the market.
“We can easily get at least one lakh low-cost houses from these projects as it covers a vast area in the city,” said Gautam Chatterjee, vice-president and CEO, Mhada.
He said a survey was underway and details were being worked out.
For all projects, while Mhada will have a 51 per cent stake, 49 per cent would be that of private developers. Mhada will sell its share of houses as per its current policy of affordable housing. Once this happens, Mumbaiites will be able to buy flats close to the sea in both the island city and the suburbs.
Around 38 per cent of the city is governed by stringent CRZ rules that have blocked redevelopment of around 5,000 dilapidated buildings and slums in areas such as Colaba, Girgaum, Mahim and stretches in Borivli.
{{/usCountry}}Around 38 per cent of the city is governed by stringent CRZ rules that have blocked redevelopment of around 5,000 dilapidated buildings and slums in areas such as Colaba, Girgaum, Mahim and stretches in Borivli.
{{/usCountry}}There are also seven major slums pockets, 15 gaothans, 20 koliwadas and 10 existing Mhada colonies in Worli and Gorai where projects can now come up.