INDIA. Mumbai: The state-run Maharashtra Housing and Area Development Authority (MHADA) has approved a housing project under the Pradhan Matri Awas Yojana (PMAY), the Prime Minister’s housing scheme, that will be built on a 360-acre plot of land in Vasai East, near Mumbai, using the Public-Private Partnership (PPP) model.
According to MHADA’s Chief Engineer Shiv Kumar Aade, the Conceptual Advisory Services LLP (CASL) will build approximately 75,000 affordable houses under its “Suraksha Smart City Project” near Gokhiware, roughly 1.4 kilometres from Vasai railway station.
The MHADA, which is a nodal body for the project, has granted an improved Flour Space Index (FSI) to the CASL, which is building the tenements on private property at its own expense, according to Aade.
The project will be built in stages, with the first phase having been registered with the Maharashtra Real Estate Regulatory Authority (MahRERA).
A total of 75981 tenements will be built, with 45,172 for the Economically Weaker Section (EWS) and 30,820 for the Lower-Income Group (LIG).
44000 (27000 EWS and 17000 LIG) of these will be sold at the MHADA rate, while 32001 (18172 EWS and 13,829 LIG) will be free.
One-bedroom apartments will be available in 23-story towers with multi-purpose lifestyle features ideal for people of all ages. After the government’s Rs 2.50 lakh direct subsidy and Rs 1000 stamp fee, a one-bedroom flat will be available for 19.99 lakh.
Suraksha Smart City would build EWS flats of 306 square feet and LIG units of 320 square feet. Beneficiaries with yearly household income up to Rs 3 lakh would be classified as EWS, while those with annual household income between Rs 3 lakh and Rs 6 lakh will be classified as LIG.
The CASL anticipates finishing the project in the next 5 to 6 years.
The company has also established a factory on-site to provide pre-cast construction materials to speed up the process.
“Any person not having his/her own house or in the name of spouse across the country will be eligible to apply online, and the registration will be allowed based on KYC linked to the PMAY portal. The houses will be allotted through the lottery,” Jash Sandip Panchamia, Partner, CASL, said.
“During the first public offer for 2000 flats in October last year, the company received over 4500 applications. Nearly 1500 applicants have made the initial payment of the selected applicants,” Panchamia added.
The Maharashtra Housing Development Authority (MHADA), a central organisation for the construction of affordable housing in Maharashtra under the PMAY, has approved 10,61,530 dwellings throughout the state.
There are 217 houses ready out of the 1,407 total.
“Besides, another 3.32 lakh houses are in the pipeline,” Aade said. Out of a total of 8 projects approved under PMAY, five projects are part of the MHADA’s Konkan board, which is constructing 59,417 houses under the PPP model.
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