MHADA to issue tenders for 67 vacant plots
After so many worthless attempts of borrowing the land, the Maharashtra Housing and Area Development Authority (MHADA) is ready to issue tenders for constructing affordable housing on 67 vacant plots all across the city. In a recent review of MHADA, totaling to more than 12 hectares of land was found.
An official also mentioned that the state government has increased the floor space index (FSI) for MHADA homes to 3 a few months ago. The plot will produce a sizeable number of homes that could be released through its annual lottery. The outcome is important considering the fact that in its last stocktaking in 2010, it came forth that the four-decade-old housing board’s available land reserves had sunk to two hectares from 1,762.
According to recent analysis, the housing board found these long-forgotten 67 plots in the outskirts in areas such as Charkop and Versova in Andheri, Malwani in Malad, Gorai and MHB colony in Borivali, Akurli and Ekta Nagar in Kandivali, PGMP colony in Mulund, Tagore Nagar and Kannamwar nagar in Vikhroli, Pant Nagar in Ghatkopar, Nehru Nagar and and Vinobha Bhave Nagar in Kurla, Sahakar Nagar and Tilak Nagar in Chembur, Santacruz and Juhu.
These plots were to be auctioned off at throw-away rates to private individuals or developers in 2004. For example, in Chembur where apartments today charge Rs 15,000 per sq ft, plots were to be sold for rebate of Rs. 830 per sq ft. Moreover the costly plots in Juhu where sell for Rs 30,000 plus per sq ft, were available for a measly Rs 3,625 per sq ft.
An official says that because of not much difference in pricing between public housing and better quality private housing, MHADA homes and land had very few buyers. Over the last few years, the prices from private players have been going north. This is the reason for the spurt in demand for MHADA homes. Analysis shows that 100 desired buyer’s line up for every available home.
Source: The Indian Express
Akurli, Borivali, Chembur, Ekta Nagar, Floor Space Index, FSI, Juhu, Kannamwar, Kurla, Maharashtra Area Development Authority, Maharashtra Housing, Maharashtra Housing and Area Development Authority, Malad, Mhada, MHADA tender, MHADA tender for plots, MHB colony, Mulund, Sahakar, Santacruz, Shimpoli, Tenders, Tilak Nagar, Vikhroli
