Hi Rakshit and Abhishek,
It will not only solve the housing shortage but at the same time, it will increasing the standards of living by giving proper homes and subsidised interest rates to EWS and LIG groups will not only aid in fulfilment of their social needs but also help everybody associated with the real estate sector. We are happy with this decision and welcome it wholeheartedly.

Manilal Patel, Mumbai

24th June 2015

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Right Mani,
Currently, taking 10.50% as an average interest rate on housing loan, EMI on admissible loan value of Rs. 6 lakh for a15 year loan duration comes out to be Rs. 6632 for each month. Now with the cabinet approving on the credit linked subsidy to 6.50%, the monthly EMIs come down to Rs. 4050 thereby, offering a saving of Rs. 2582/month.

Shalini Parikh, Mumbai

24th June 2015

Really a big amount people have to pay as interest. Now, they will get relief from this burden.

The government has planned to not only build more houses, but to redevelop slums, decrease interest for poor section, involving private sector and also aid urban poor for renovating the existing homes. It is essential to understand that "Housing for all by 2022" is a bigger term than what is being understood by the common public. There is lot more to it than just providing houses to everyone.

Manilal Patel, Mumbai

24th June 2015

Hi Folks,
A path breaking news for the Indian housing sector as the cabinet has approved launch of "Housing for all by 2022" programme, which is primarily aimed at rehabilitation of slum dwellers and promotion of affordable housing for the Economically Weaker Sections (EWS) and Lower Income Groups (LIG), through credit linked subsidy.

Abhishke Karule, Mumbai

24th June 2015

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Really Abhishek,
Lagta Hai Acche Din Aane Wale Hai.............
Do you know that almost 30% of our country's population falling under LIG and EWS groups, the current price trend in Indian real estate cannot be afforded by them. Thus, schemes like these are major incentives for this section of the society along with development of affordable homes. I appreciate this move by the Modi Govt.

Rakshit, Mumbai

24th June 2015

I think so. And it will help in many ways to the people like releasing of inexpensive land parcels, land acquisition to become easy, interest rates to be dropped, raw materials to cost less and other such steps will make sure that developers are provoked to construct houses coming under affordable segment and target audience to be EWS and LIG groups primarily.

Abhishke Karule, Mumbai

24th June 2015

@Abhishek,
In this scheme a support of Rs. 1 lakh to Rs. 2.30 lakh per beneficiary would be provided under different components of the National Urban Housing Mission (NUHM) in urban areas to build 2 crore houses to meet the housing shortage, over the next 7 years.

Rakshit, Mumbai

24th June 2015

Hi Guy's,
Have you heard the latest news? PM Narendra Modi's "Housing for all by 2022" scheme to be launched by mid of June. Modi is probably to launch the scheme as an umbrella mission after recounting all affordable housing schemes and slum redevelopment projects.

Roshni Pawal, Mumbai

28th May 2015

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It's time to cheer Roshni,
Have the urban development and rural development ministries finalized their specific elements for providing 6 lakh houses?

Abhinandsavalla, Mumbai

28th May 2015

No, it's time to cheer the whole nation.
Both the urban and rural development ministries have finalised their respective components for providing 6 lakh houses, 2 lakh in urban areas and 4 lakh in rural areas.

Roshni Pawal, Mumbai

28th May 2015

Hi Shanatanu & Lalit,
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.

Praveen Modi, Mumbai

23rd April 2015

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Right Praveen,
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.

Shantanu Kumar, Mumbai

23rd April 2015

Hi everybody,
Now it seems to me that the affordable housing plan will work. As per 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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Well 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.

Lalit Verma, Mumbai

23rd April 2015

Hmm,
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

But experts feel that NAINA will be the epicenter of affordable housing in Navi Mumbai. It holds a clear advantage as it is a planned and structured satellite city with a cosmopolitan and modern outlook. CIDCO has made sure that there is round-the-clock water and power supply and the physical infrastructure is running smoothly. The social infrastructure in terms of schools, medical and engineering colleges has also added value to the lives of residents in Navi Mumbai.

Puneet Laskar,

11th February 2015

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Even last year Last year in September, CIDCO had announced that it will use a 100-hectare plot that was previously allotted for a Special Economic Zone by Videocon Group, to achieve its previously decided target of constructing 10000 new low cost homes. Around 60 hectares of this land lies in Dronagiri and the rest in Karanjade and Kamothe, all in close proximity of the proposed Navi Mumbai International Airport.

Lokesh Patwa,

10th February 2015

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As per the report, Navi Mumbai with all infrastructure developments is expected to be one of the most promising and affordable growth corridors in the MMR Region. The involvement of growth in Navi Mumbai has been primarily driven by the affordable housing segment.The City and Industrial Development Corporation of Maharashtra is at the wheel of planning structured growth of both residential and office space in Navi Mumbai.

Puneet Laskar,

10th February 2015

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For the time being, the Bombay High Court has try to find response from Maharashtra and Central government while hearing a public interest litigation on availability of affordable housing in MMR. The court has directed the Maharashtra Industrial Development Corporation, the Maharashtra Chamber of Housing Industry, the Rail Land Development Authority and other respondents to file an affidavit in response to the PIL in 2 weeks.

Lokesh Patwa,

9th February 2015

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Well Lokesh,
It is found that Around 5% of MMR land is covered with salt pans. More than 5500 acres of salt-pan land could be used for affordable housing, but most of it is under coastal regulation zone and is ecologically sensitive. The biggest parts of land are situated in Turbhe-Mandala belt and Mulund-Kanjur belt.

Puneet Laskar,

9th February 2015

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You are absolutely right Puneet,
According to Housing Minister Prakash Mehta the state government plans to provide 400 sq-ft area tenements at affordable rates over the next 4 yrs. He claimed that a plan for the construction of around 7 lakh houses is almost already.

Nevertheles, the problem is that the government wants the people to reside in those tenements rather than selling them for some instant benefit. Under this scheme, all the slum dwellers would be asked to register themselves as beneficiaries under the affordable housing scheme.

Lokesh Patwa,

9th February 2015

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Hi,
Do you know that the Devendra Fadnavis-led BJP government is planning to construct 11 lakh affordable houses in Mumbai. The government is interested on using salt pan land of the island city to build these houses. The Union urban development ministry has also given an in-principle approval for the utilisation of salt pan land.

Puneet Laskar,

9th February 2015

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