Affordable houses to be subsidised.

Q: Will subsidy be given on the cost of land where affordable housing units will be constructed?

Aditi, Mumbai

2nd March 2012

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reduction in fsi-tdr premiums

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amendment in affordable housing rules

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Replies (5)

Hi Vineet,
For that our Industry Minister Subhash Desai named for a nodal agency to synchronize between different state and central agencies like public works department and railways in the development of Mumbai and direct to make structure of operations for the best interest of the city.

Dev Patel, Mumbai

26th April 2015

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Hi Pradyuman,
Maharashtra government would also emphasis on developing infrastructure and the 3000 km long state highways that would be developed as national highways. He ask for the developers group to join hands with the government in building a new Maharashtra.

Vineet Tendulkar, Mumbai

25th April 2015

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Well, it really sound great that our ministers are thinking not only for the development of real estate but also for the country's development. Even the Housing Minister Prakash Mehta recommended a decrease in FSI-TDR rates to make land available to developers in return for a specific percentage of free homes to the government, which could be sold at low prices to the poor classes.

At the same time , through this, the govt could eliminate its Rs.350000 crore financial debt pressure got from the past program.

pradyumanapte, Mumbai

24th April 2015

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Hi Ramesk,

Now the affordable homes in Mumbai may not be a distant dream. As Maharashtra Government has been concerned on giving affordable housing. As per the the Maharashtra government, they will change rules and regulations to help in delivery of affordable housing projects for the millions of the state's poor. Making sure that the offered new housing policy would be "pro-people", CM Fadnavis told the developers to work together with the government in its mission to provide affordable housing for the lower-middle class and the poor people.

Shantanu Kumar, Mumbai

23rd April 2015

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Hi Shantanu,
Yes, Maharashtra CM was speaking at a conference on "Vision Maharashtra - Housing For All by 2022" organized by National Real Estate Development Council.

As per the Maharashtra CM, they have taken this issue very seriously and are fully commited to apply it. Govt. will make the laws versatile and he am ready to face criticism.

Shaunak Verdla, Mumbai

24th April 2015

Right Shaunak,
He also said that challenging laws and taxation must go to help the developers, but finally that should also result in affordable housing stocks.

But as per him, the new offered Development Control Rules for Mumbai would make sure that the optional powers of officials are decrease to the minimum for increased visibility.

Shantanu Kumar, Mumbai

24th April 2015

According to sources, the state has decided to explore the option of providing subsidy on the cost of land. Even the State Housing Department is planning to bear up to 25% of the cost of land acquired for creating affordable houses.

Ramesk Polekar, Mumbai

6th March 2012

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