The state government´s plan to build affordable homes on a part of Mumbai´s 5,379 acre of salt pan land may not take off soon. According to a recent MMRDA report, barely 25 acre of such land - a negligible 0.5 per cent - is developable. Also, these pockets are not contiguous, but are in bits and pieces in different locations of the eastern suburbs.
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Maharashtra Chamber of Housing Industry (MCHI) and CREDAI have jointly signed an MoU with the Maharashtra government. Under the MoU, around 28 developers are likely to invest Rs 1.10 lakh crore in six projects constructing 5.69 lakh affordable homes.
To implement its plan to reserve 20 per cent homes for affordable homes in all major private housing projects in the state, the Maharashtra government is expected to issue final notification next September. It is said that decks have now been cleared for for the State's plan.
DBS Affordable Home Strategy is set to create about 25,000 affordable homes in Ahmedabad for lower income groups in the next five years, financial closure for which the developer has achieved with micro finance institutions and banks. At a project cost of Rs 2,000 crore, DBS aims to achieve large scale mass production of houses that are affordable and financed through savings and credit systems that are accessible to the lower income groups and bottom half of the socio-economic pyramid in differ