MMRDA commences work on Five Thousand five hundred units of Rental Housing

MMRDA commences work on Five Thousand five hundred units of Rental Housing
Construction on 3 sites for rental housing in full swing
Mumbai April 29, 2010: MMRDA has started construction in full swing on five thousand five hundred Rental housing units at Dosti Vihar and Akruti in Thane and Neelkamal Realtors (DB Realty) in Mira Bhayander. The construction at these sites is expected to be completed very soon. The building permissions have been received for eight projects and nearly 14,000 units will be completed in different phases.
The Dosti Vihar site comprises of 1,345 units in four buildings and 1078 units in five buildings at Ackruti in Thane, while Neelkamal Realtors at Mira-Bhayander site has 3,035 units in nine buildings.
The prime objective of the Rental Housing Scheme being implemented in Mumbai Metropolitan Region is to make available stock of housing in MMR on rental basis within the affordability limits.
“MMRDA has decided to construct 5 lakh houses in 5 years. Recently we have approved 25 Letter of Intent for the construction of 2 lakh houses” said Mr. Ratnakar Gaikwad, Metropolitan Commissioner, MMRDA.
Under the rental housing scheme, MMRDA plans to construct five lakh homes to be given on a measly rent to be charged ranging between approximately Rs 800 to Rs 1, 500. Any individual, who has been a resident of Maharashtra for the last 15 years and has a minimum monthly income of Rs 5,000, could avail a home under this scheme.
The Rental housing project is executed on Public Private Partnership (PPP) basis based on FSI incentive. The Rental housing project is of ‘Vital Public Purpose’ and also a ‘Slum Prevention Programme’.
This model is applicable within Municipal Corporation limits of Thane, Kalyan-Dombivali, Mira-Bhayander, Bhiwandi-Nizampur, Ulhasnagar and Special Planning Authority areas at Vasai-Virar Sub Region, and Ambernath, Kulgaon, Badlapur and Surrounding Notified Area, and Municipal Councils of Panvel and Karjat, Pen, Uran, Alibagh and Khopoli. This model is also applicable in U1 and U2 Zones within MMR.