Re­vamp of MHADA colonies gets fil­lip in new hous­ing pol­icy

Hindustan Times ST (Mumbai) - HT Navi Mumbai Live - - FRONT PAGE - Naresh Ka­math naresh.ka­math@hin­dus­tan­times.com

The new hous­ing pol­icy is ex­pected to speed up the long-awaited re­de­vel­op­ment of the Ma­ha­rash­tra Hous­ing and Area De­vel­op­ment Au­thor­ity (MHADA)-built colonies, a project that has been stalled from the past six years. These colonies are lo­cated across Mum­bai, with some of them be­ing at prime lo­ca­tions.

The state govern­ment has now pro­posed to grant FSI (floor space in­dex) of 4 in­stead of 3 to those builders who con­struct af­ford­able houses where the colonies are lo­cated.

The move means in plots of less than 2,000 square me­tre, builders have been given an op­tion to utilise the ex­ist­ing 3 FSI and pay a premium or get an ad­di­tional 1 FSI to con­struct af­ford­able houses and hand them over to MHADA.

While re­leas­ing the new pol­icy, chief min­is­ter Deven­dra Fad­navis said it was an in­cen­tive to those builders who wish to as­sist the state to gen­er­ate af­ford­able houses. He said the move will give re­lief to lakhs of MHADA colonies’ res­i­dents.

Builders, too, have wel­comed the pol­icy. Ac­cord­ing to Ra­jesh Vard­han, man­ag­ing direc­tor, Vardhman Group, it’s a win­win sit­u­a­tion for all. “The ex­ist­ing res­i­dents will get big­ger houses and for builders, the project will be­come vi­able. The govern­ment will get af­ford­able houses,” said Vard­han.

REUTERS PHOTO

Par­a­lympians Mariyap­pan Thangavelu (left) and Varun Singh Bhati pose with the tri­colour af­ter win­ning gold and bronze medals, re­spec­tively, in the men’s high jump event in Rio.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.