Mumbai tops number of affordable houses
A recent survey was carried out by real estate research firm Jones Lang LaSalle (JLL) on affordable housing in seven cities – Mumbai, New Delhi, Kolkata, Chennai, Pune, Ahmedabad and Bangalore.
The survey shows that Mumbai tops six other cities in the country for the number of upcoming affordable housing projects. Around 15 projects are being planned by major developers in the outskirts of the city.
Mumbai has more than 350 existing and ongoing affordable housing projects. Big players like Tata Housing, HDIL, DBS Affordable Homes and Nirman Home are catering to the segment.
A case in hand is Tata Housing, which has launched a company Value Homes Limited that caters solely to the low-cost housing segment with price range between Rs. 5 lakh to Rs. 35 lakh.
The only contentious issue is the distance of these housing projects from the city. Compared to cities like Ahmedabad and Bengaluru where affordable homes are located within 20 kms of the city, in Mumbai the distance has gone up to 70 kms.
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