Affordable housing in Mumbai
There is good news in the offing for seekers of affordable housing in Mumbai. The Maharashtra Housing and Area Development Authority (MHADA) is set to release 4,468 affordable houses during its annual lottery in May-June this year. However, owing to the housing board’s exhausted land bank within city limits, of the total houses, only 17 [...] Continue Reading »
Kalyan-Dombivli, in the outskirts of Mumbai, comes under Kalyan-Dombivli Municipal Corporation (KDMC) and forms a part of Mumbai Metropolitan Region (MMR). The area’s realty market is witnessing boom mainly because of the increasing property values in other suburbs. Another reason quoted for the growth is the increasing demand for affordable housing in Mumbai. According [...] Continue Reading »
According to Knight Frank’s Prime Asia Development Land Index, the economic capital witnessed maximum appreciation in prime residential development land. The index takes into account the cost of prime residential development land in 13 major cities across Asia that consists of NCR, Bangalore and Mumbai in India and determined that the Southeast Asian cities witnessing [...] Continue Reading »
Plots in Mumbai which have been kept aside for affordable housing is being misused. More than 40% of the land has been either lying vacant or are encroached upon now. Five out of eight plots reserved for welfare centres are misused. Around 60% of plots are only used out of total. Malad-Malwani stretch in the [...] Continue Reading »
With the growing urbanization and the need for affordable housing in the country, Union Minister for Housing and Poverty Alleviation feels that the developers can manage the situation. The challenges of these two factors are growing in the metro cities of India, but he feels developers can handle the challenges. Approximately 50% of the population [...] Continue Reading »
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. 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 [...] Continue Reading »
Maharashtra Housing and Area Development Authority (MHADA) has sent a notice to thirty-three real estate builders for not giving 3,300 houses to the housing board as per the rules. Now they have two months to deliver those houses. MHADA officials said that the builders failed in handling over 10 lakh square which translates to around [...] Continue Reading »
For a better rental housing scheme in Mumbai, MMRDA chief wants the floor space index (FSI) to be little flexible. The developers can then work on a good rental housing scheme. Developers supporting rental scheme recommends for a better amendment in the approved FSI. According to the scheme, the state government had plans of building [...] Continue Reading »
As an initiative to increase affordable housing in the city, Maharashtra Government has made 20% of land mandatory for the same. The step has been taken keeping in mind to provide housing for economically backward classes and low income group people. Reservation of land would be done only on a 2,000 square meter of land. [...] Continue Reading »
