Mhada plans first 100-acre township near Panvel
There’s good news for those wanting to buy an affordable home in the vicinity of Mumbai. The Maharashtra Housing and Area Development Authority (Mhada) is planning to build low-cost houses on 200 acres of land in Panvel,
currently in possession of the Maharashtra State Road Development Corporation (MSRDC).
The authority has identified two plots of land, 100 acres each, at Lodhavali and Adai near Panvel, for the purpose. It
will build townships on the plots and could create 30,000 houses, Mhada officials feel.
“As a government body, Mhada gets a Floor Space Index (FSI) of 2.5, so the land can easily generate 30,000 houses of 484 sq ft each,“ said a Mhada official who did not wish to be named.
Confirming the developments, Mhada CEO Satish Gawai said, “The project is at the planning stage.“ Mhada has, for decades, been building affordable houses in Mumbai but has run out of land within the city’s
limits. It had been on the lookout for land near Mumbai.
Mhada and MSRDC will on Wednesday undertake a joint inspection of the 200 acres of land identified by the housing authority for the purpose of building low-cost houses.
According to an official, the project would work out favourably for both parties as the road development authority has the land and Mhada the money and competence to undertake a project of such magnitude. Modalities of how the MSRDC is to be compensated for the land are currently being worked out.
The Maharashtra Chambers of Housing Industry (MCHI) has welcomed the initiative. “If Mhada comes to
these areas, infrastructure would develop immensely,“ said Manohar Shroff, secretary, MCHI (Navi Mumbai).
He said there is currently a huge market for affordable homes, and there would be no problem in selling the apartments.
November 29th, 2011 at 12:48 PM
low budget urgently want 500sqft in 10lacs