Prakash Mehta, the State Housing Minister in the Maharashtra Govt said that the Government is likely to team up with the landowners for developing affordable homes in the State. While addressing the event organized by Confederation of Indian Industry (CII) in Mumbai, the minister also stated that the Policy for the same will be tabled before the State Government within a month. The Govt plans to construct 5,00,000 affordable homes in Mumbai and 10,00,000 homes across the state by 2022 if the policy gets a green signal from the Council of Ministers.
The Minister further said that the necessity to team up with the landowners arose because of the elevation in cost prices of land. The State Government, will either acquire land via Maharashtra Housing and Area Development Authority (MHADA), else they will work mutually with property-owners for the construction of affordable housing. Prakash Mehta also said that the way to compensate landowners and work plan will be discussed and finalized by the end of this month.
The joint venture will speed up the construction of affordable homes and the financial funding will not be an issue as the State Government is going to offer full support to MHADA for the construction of these homes. The Minister further said that the Government will start work on the redevelopment of Dharavi area which is pending from a long time. But, this time the development of residential and commercial areas will be carried out separately.
The State Housing minister said that a tender for the same will be floated in some time and the State Government will have 51 percent stake in the Special Purpose Vehicle which is going to be formed soon.