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adProperty News

Mumbai to build one lakh rental homes
Source : The Hindu Property Plus Published On : 2008-09-20 City : Chennai

     The Mumbai Metropolitan Region Development Authority (MMRDA) has undertaken an ambitious project to build about five lakh inexpensive rental homes within the next five years and one lakh such homes would be ready by December, Chief Minister Vilasrao Deshmukh said.

     MMRDA would get Rs 750 crore as rental after the project is completed, Deshmukh said addressing a meeting at Mantralaya.

     The scheme is targeted at low income groups in an effort to arrest proliferation of shanties in Mumbai. Houses of at least 160 sq feet size would be built under the scheme. Mr. Deshmukh said six locations in Mumbai had been identified for dumping waste. The meeting also dwelt on issues like the trans-harbour link and monorail, official sources said.

     The scheme has come as a good news for the people in India’s financial capital, where an estimated 60 per cent of the 13 million population live in slums or semi-slum conditions without basic facilities. The first lot of 35,000 houses each self-contained unit measuring 160 sq ft will come up in Tiwri village, Vasai, around 25 km from city, in neighbouring Thane district.

     They will be constructed by a private builder over a 50 acre plot and the work is expected to start soon.

     The colony would be self-sufficient in terms of other infrastructure like schools, community halls and shopping areas.

     The rental period and monthly amount shall be decided later by the MMRDA taking into account various aspects like location, construction costs and prevailing market conditions, sources said. - PTI


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