Ma­ha­rash­tra miles ahead of the pack

State to de­velop one lakh units in three years un­der the rental hous­ing scheme

HT Estates - - NEWS - Van­dana Ram­nani

Un­like de­vel­oped coun­tries such as UK, US, France and the Nether­lands, In­dia has very low pen­e­tra­tion of rental hous­ing. So­cial rental hous­ing in th­ese coun­tries con­sti­tutes 20% to 30% of their to­tal hous­ing stock.

Ac­cord­ing to a KPMGNAREDCO re­port ti­tled Bridg­ing the Ur­ban Hous­ing Short­age in In­dia, gov­ern­ments have a large role to play in pro­mot­ing so­cial hous­ing as most of the rental houses are pro­vided by the gov­ern­ment or limited to non-profit hous­ing as­so­ci­a­tions that utilise gov­ern­ment in­cen­tives. Au­thor­i­ties such as the Mum­bai Metropoli­tan Re­gion De­vel­op­ment Au­thor­ity (MMRDA) had taken the lead way back in 2009, in a tie-up with Hous­ing De­vel­op­ment and In­fra­struc­ture Limited (HDIL) to de­velop 525 acres of land in Vi­rar and build rental houses for about 43000 fam­i­lies un­der the scheme. HDIL was free to build an­other 90,000 houses to sell in the mar­ket to re­cover costs. The rent was to range from R800 to R1500, de­pend­ing on the lo­ca­tion.

The scheme un­for­tu­nately had limited suc­cess as it lacked en­force­ment and re­quired rental man­age­ment.

The state nev­er­the­less runs a suc­cess­ful rental hous­ing scheme, al­low­ing de­vel­op­ers an FSI of four as an in­cen­tive. They can use and sell up to three FSI and sell the re­main­ing one to the MMRDA to use for rental hous­ing. It works out to some­thing like this: On a min­i­mum 1 hectare plot that be­longs to the de­vel­oper for which clear­ance is re­ceived by the MMRDA, three-fourth of the plot is avail­able to the de­vel­oper to build and sell while one-fourth of the land is de­vel­oped and trans­ferred to MMRDA free of cost to be given for rental hous­ing. “Till date, there have been over 50 de­vel­op­ers who have en­rolled for the scheme. As of now there are 25 sanc­tioned projects un­der this scheme. While 10,000 units will be ready un­der this scheme by the end of this year in ar­eas such as Thane and Kalyan, we are hop­ing to com­plete a to­tal of 1 lakh units by the end of three years,” says S V R Srini­vas, ad­di­tional metropoli­tan com­mis­sioner and project direc­tor, MMRDA.

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