This time around MHADA is not planning to use its usual policy of selling its houses at a discount. This time the houses will be sold at prices comparable to market rates.
That is sad, so people who have been staying there for so many years will have to shift out. However, as long as they are promised proper accommodation in other colonies, it should be ok. But this we will only have to wait and watch.
MHADA has plans to bring down the transit camp which is housing 750 tenants. However, the eligible tenants will be provided alternate accommodation in MHADAs other colonies.
This 14 storied twin tower skyscraper is planned at Bharatnagar, next to the Bandra-Kurla Complex (BKC) business district. This plot currently houses a transit camp. But to go ahead with the scheme, it has to get the proposed land use on the plot changed to residential from commercial.
Yes, unfortunately yet another plan to do some good in the real estate sector gets delayed, thanks to the bureaucratic tangles that are happening now. The Maharashtra Housing and Area Development Authority had planned to cross-subsidise mass housing by constructing luxurious flats in Bandra East. The plan was to sell these flats at market rates.