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MMRDA rental housing scheme awaits CM approval

No Comments Sub Category:Mumbai,Realty News,Uncategorized Posted On: Apr 16, 2013

Rental housing schemeThe rental housing scheme by MMRDA has been lying aside for a while as it is awaiting final approval from the state CM.

This scheme has become one of the worst-hit projects of MMRDA as around 5,000 flats have been constructed but none have been allocated.

These 5,000 flats in Thane have been constructed by developers at 17 different sites in the district. Till date, the authority is reluctant to take possession as it still awaits the CM’s approval on the allotment policy.

This certain scheme was established in 2008 which aimed at preventing the growing number of slums and to offer homes to bonafide persons at affordable rates.

During its launch, a target of 5 lakh units was set for the next five years of size 160 sq ft. The rentals set was around Rs 800 to Rs 1,400 per month for the Mumbaikars with domicile certificates.

By March 2012, location for around 41 projects had been sanctioned and MMRDA had expected about one lakh rental houses in the following years. Out of these, 20 projects received permission to execute the projects.

However, in April 10, 2012, due to a fire incident in a Dosti Vihar project, it still awaits occupancy by the residents.

The same builder has constructed 1,492 flats of 160 sq feet in its two projects Dosti Vihar and Dosti Imperia at Vartak Nagar located in Thane. These projects consist of 32 shops, four balwadis, four welfare centers and four cabins for caretakers.

As per sources of MMRDA, state government has been asked to finalise the allotment policy. However, a year has passed and the process hasn’t gathered any momentum.

Developers associated are facing financial burden due to a recent decision of merging two flats into one.

MMRDA has also claimed that about 50% of the flats developed would be given on rent and another 50% would be allotted to local bodies and state government staff.

Related Real Estate News:

Apartments in Powai witness rental rates hike

Demand for rentals in Cuffe Parade in Mumbai grows

Worli and Prabhadevi in Mumbai witness price appreciation

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