The big names in construction sector including L&T, Godrej, Shapoorji, Pallonji & Shirke Construction may soon take part in booming the housing construction in Maharashtra. The state government may tie up with these companies to construct 5 Lakh houses in Mumbai in the coming 5 years.
These companies are all set to contribute in the housing and they have also given their presentation to construct affordable houses with advanced technology. The officials said that the construction of these houses will be completed in the next five years.
This step will initiate the dream of Prime Minister of India Mr. Narendra Modi of providing houses to all by 2022. The officials said that, to implement this step, Rs. 5000 crore will be taken as loan from HDFC Bank. Apart from this, the world bank has also articulated its preparedness to extend financial aid at minimum interest rate.
According to Prakash Mehta, housing minister, we are committed to construct 11 lakh houses out of which five lakh will be constructed in Mumbai alone; to construct these houses we need one lakh crore rupees & to raise funds we are planning by way of equity.
Before initiating this mega plan, the housing committee is observing all suggestions and observations of previous committee on affordable housing & all this will be incorporated. Many real estate firms have welcomed the government decision and they said that if the government wish, they can stabilize the price boom in housing.
At present, due to many reasons, people are not interested in buying houses constructed by Government, once these big firms gets in, the scenario will completely change because these developers have the ability to construct houses with modern technology and good quality.
L&T is the only developer who constructed most of the legendary construction in Mumbai. It also contributes in the construction of metro, road and other projects across the world. It will endow a professional touch in the field of housing.