Along with MHADA, BMC will also be participating in the construction of housing units across the area for economical weaker section, lower income group and medium income group. According to the information, after MHADA, BMC will be the next housing development authority in the region and it will provide affordable housing units of 300 to 600 square meter size range through a lottery system.
By opening ‘no development zones’ of the city, BMC is planning to create one million affordable houses by 2034.
The minimum expected revenue from this project is around Rs. 2 lakh crore.
Ajoy Mehta, Municipal commissioner informed that since these lands belong to private owners who will be given incentive, BMC will not have to buy them. Only construction cost will be incurred, which will be passed on to buyers after taking the government monetary help in account.
For the constructions of these low cost housing units, the central and state government will provide an assistance of Rs. 1 lakh and Rs. 1.30 lakh respectively for a single unit.
According to the information, 33 percent of the plot will be used for the construction of affordable homes of different sizes which would be meant for three sections of the society. On 34 percent, commercial or residential projects would be developed and the remaining area will be used for open spaces, amenities and internal infrastructure for bigger housing projects.
Source: https://www.dnaindia.com/