Affordable housing in Mumbai

Q: What is the current status of affordable housing in Mumbai? Is it advisable to invest in properties in Mumbai?

Kishore Pathak, Mumbai

5th February 2013

Investment Advice in Mumbai

properties in mumbai

affordable housing in mumbai

maharashtra government

affordable housing in mmr

chief minister devendra fadnavis

national real estate development council

development control rules for mumbai

reduction in fsi-tdr premiums

affordable housing for the lower-middle class

housing minister prakash mehta

amendment in affordable housing rules

affordable housing in mumbai

infrastructural development in mumbai

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Replies (7)

For the development of the infrastructure, our Industry Minister Subhash Desai named for a nodal agency to synchronize between different state and central agencies like public works department and railways in the development of Mumbai and direct to make structure of operations for the best interest of the city.

Nishant Bhat, Mumbai

25th April 2015

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Furthermore, Housing Minister Prakash Mehta recommended a decrease in FSI-TDR rates to make land available to developers in return for a specific percentage of free homes to the government, which could be sold at low prices to the poor classes.

At the same time , through this, the govt could eliminate its Rs.350000 crore financial debt pressure got from the past program.

Kunal,

24th April 2015

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@Kunal,
As per the Finance Minister Sudhir Mungantiwar, state government would also emphasis on developing infrastructure and the 3000 km long state highways would be developed as national highways. FM asked the developers community to join hands with the government in building a new Maharashtra.

Shantanu Kumar, Mumbai

24th April 2015

Hi all,
Now the affordable homes in Mumbai may not be a distant dream. As Maharashtra Government has been concerned on giving affordable housing. As per the the Maharashtra government, they will change rules and regulations to help in delivery of affordable housing projects for the millions of the state's poor. Making sure that the offered new housing policy would be "pro-people", CM Fadnavis told the developers to work together with the government in its mission to provide affordable housing for the lower-middle class and the poor people.

Shantanu Kumar, Mumbai

23rd April 2015

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Hi Shantanu,
The news came when our CM was speaking at a conference on "Vision Maharashtra - Housing For All by 2022" organized by National Real Estate Development Council.

As per the Maharashtra CM, they have taken this issue very seriously and are fully commited to apply it. Govt. will make the laws versatile and he am ready to face criticism.

Kunal,

24th April 2015

Right Kunal,
He also said that challenging laws and taxation must go to help the developers, but finally that should also result in affordable housing stocks.

But as per him, the new offered Development Control Rules for Mumbai would make sure that the optional powers of officials are decrease to the minimum for increased awareness.

Shantanu Kumar, Mumbai

24th April 2015

A seperate policy framework under the Rajeev Awas Yojana (RAY) has been demanded for the state, since the existing guidelines were not sustainable in Mumbai, Thane and Pune.

Ravi Waghmare, Mumbai

11th February 2013

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The FSI policy has to be amended to boost the affordable housing stock in Mumbai. Also, the policy for providing Infrastructure Status to affordable housing schemes is on the cards to improve the urban housing scenario in the city.

Ramesk Polekar, Mumbai

11th February 2013

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In a city like Mumbai where 50% of the population stays in slums, it becomes very difficult for them to afford houses near workplaces. Due to which, Union housing minister has said that affordable housing should now be given the infrastructure status to facilitate more stock of affordable properties in Mumbai for the urban population.

Sunil Joshi, Mumbai

11th February 2013

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The Central Government has suggested the state authorities to review the floor space index (FSI) policy again to meet the affordable housing demand in Mumbai. So, it looks the whole scenario is going to change.

Nishant Bhat, Mumbai

11th February 2013

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