At the same time 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.

Through this, the govt could eliminate its Rs.350000 crore financial debt pressure got from the past program.

Lalit Verma, Mumbai

23rd April 2015

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Hi Lalit,
For that our Industry Minister Subhash Desai has already 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.

Roshni Pawal, Mumbai

24th April 2015

Hi everybody,
Here are some good news on Affordable Housing. 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,
This news was came while the 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.

Bikram, Mumbai

23rd April 2015

@Bikram,
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

23rd April 2015

Hi Everybody,
Have you heard this news that the Maharashtra government 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", Maharashtra 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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Right Sudhir,
As per the Finance Minister Sudhir Mungantiwar, state government would also emphasis on developing infrastructure and the 3000 km long state highways would be developed as national highways. FM asked the developers community to join hands with the government in building a new Maharashtra.

Rakshit, Mumbai

23rd April 2015

The future prospect of the locality is good due to its affordability factor, especially for people with low income. Though in the short term, there may not be much appreciation, one can invest in the area for medium to long term as the area can witness an appreciation of 7-8%.

Govinda,

18th December 2013

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How is the real estate market in Boisar? Is it worth investing in this area or locality?

Kaushik Bardia,

18th December 2013

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Lower configuration houses such as 1 BHK properties are in much demand though there is a demand for 2 BHK properties. The size of a typical 1 BHK apartment is between Rs. 350-600 sq.ft while the size of a 2 BHK apartment is between 650-830 sq.ft. 1 BHK apartments are available at the price of Rs. 10 - 20 lakhs while a 2 BHK apartment can be bought for Rs. 20 - 30 lakhs.

Govinda,

18th December 2013

Property prices in this locality are in the affordability range. The cost of a residential property in the area is between Rs. 2,000-4,000 per sq.ft. Most properties are in the range of Rs. 2,500 per sq.ft. This is cheaper than neighbouring Virar and Nalasopara where the property prices are an average of Rs. 5,000 per sq.ft.

Vineet Tendulkar, Mumbai

18th December 2013

How is the social infrastructure and connectivity to the rest of the city?

Kaushik Bardia,

18th December 2013

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Boisar is a fast developing suburb due to its connectivity primarily through a railway network. Since the locality is also an industrial town, there are good employment opportunities which attract a good number of blue collar workers. Other social amenities are expected to follow with the development of real estate in the area. There are already small time entrepreneurs setting up shops in the locality.

Rajiv,

18th December 2013

Boisar has some good social amenities such as schools and colleges as well as hospitals. Some of the educational institutions here include Deep Education Institute, Tarapur Vidya Mandir, Don Bosco School and Shine Institute of Technology & Management. There are several private as well as government hospitals in Boisar. There are recreation facilities such as Tarapur Fort and Chinchini Beach. Mamacha Gaon is a resort in the proximity of Boisar.

Rajiv,

18th December 2013

I am looking for an affordable housing in MMR for investment purpose. Which are the areas I can go for?

Kaushik Bardia,

18th December 2013

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Boisar, an industrial town in Palghar taluka near Virar, is expected to soon become a real estate investment hot spot due to the on-going and planned infrastructure developments here. The industrial town, currently being governed by a Gram Panchayat will be soon converted to a Nagar Parishad.

Vineet Tendulkar, Mumbai

18th December 2013

I agree, this has resulted in a colossal deficit of homes in the Economically Weaker Section and the Lower Income Group. Reports say that India has a dearth of 18.78 million residing units, 96 per cent of it in the EWS and LIG segments.

Vinay Dixit, Mumbai

20th October 2013

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Well, that’s a tough question to answer; however, the irony is that builders and developers have very watchfully kept themselves away from affordable housing sector. The idea is simple, selling a few houses in the high-end category reap more profits than the efforts and money spent on building and selling lot of houses in the budget sector. Also, the so called news that the housing bubble notwithstanding and prices expected to crash has only been a speculation. In markets such as Mumbai, over six months of inventory lies unoccupied but the prices are still kept unaffordable.

Sandeep Mhatre, Mumbai

20th October 2013

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This is very sad, with so much of urbanisation happening and some many people moving from rural to urban areas I hear that there are more than 19 million people homeless in Indian cities. Where are all these people expected to go?

Kishore Pathak, Mumbai

20th October 2013

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But there has been little improvement in a few metro cities like Mumbai, Delhi, Chennai, Hyderabad and Bangalore where much of the migration has happened over the last decade.

Vineet Tendulkar, Mumbai

20th October 2013

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Yes, what you heard is true, the government has plans via the RBI’s External Commercial Borrowings scheme to let developers and housing finance companies to raise up to $1 billion. However, this is still on paper and nothing concrete has happened yet.

Ashish Sharma, Mumbai

20th October 2013

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