MHADA, SRA May Be Merged To Expedite Affordable Housing
In a bid to expedite low-cost housing in Maharashtra, the state government may merge the Maharashtra Housing and Area Development Authority (MHADA) with the Slum Rehabilitation Authority (SRA), along with some sections of the Urban Development Department. At a recent review meeting with the Brihanmumbai Municipal Corporation (BMC) and senior state officials, Chief Minister Uddhav Thackeray hinted at this move.
With the objective to push affordable housing in the state, the Maharashtra government had during the Magnetic Maharashtra Global Investors Summit of 2018 signed pacts with CREDAI-Maharashtra and CREDAI- Maharashtra Chamber of Housing Industry (MCHI) to develop 9.15 lakh units. Of the total, about 2.5 lakh affordable homes would be built in state capital Mumbai while other cities would be the beneficiaries of the remaining 6.5 lakh homes.
CREDAI president, MCHI, Nayan Shah had said that while the state government would provide operational support through the local authorities, CREDAI would be responsible for timely completion of these affordable units across Maharashtra.
The scheduled timeline to complete the project is 2022.
Farm land for affordable housing
This is not the first time that Maharashtra government is stepping in to declare its support for affordable real estate. In 2018, the state government opened up farmland for affordable housing. Such land that is under municipal corporations and municipal councils would, however, be dedicated to affordable housing for the economically weaker sections (EWS). The floor space index (FSI) for such developers is one.