Maharashtra is planning to relaunch its ambitious rental housing scheme in Mumbai Metropolitan Region, hoping to succeed with more liberal norms as previous efforts failed to draw much response from private developers.
The Floor Space Index (FSI) for projects under public-private partnership will be between 3 and 4 this time, up from 3 earlier, officials of Mumbai Metropolitan Regional Development Authority said. For additional FSI above this, the developer will have to pay about 60% of ready reckoner rate as premium. FSI refers to the ratio of a building's total floor area to the size of the piece of land on which it is built. "The state government has proposed the move in its draft housing policy and unlike last time there will be no restriction on the size of the houses to be built under the rental housing scheme," said an MMRDA official.
Mumbai Metropolitan Region includes Mumbai, Navi Mumbai and Thane. Based on the Maharashtra State Housing Policy of 2007, the rental housing scheme was initially introduced by the state government in 2009 to allow participation of private sector developers and aimed at reducing the slum clusters. A few developers also received sanctions for their projects under this scheme in extended suburbs such as Virar, Thane and Karjat.
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MCHI-THANE has always been very clear that fine housing complexes and shopping malls cannot stand in isolation. A great City is the sum total of great buildings, great infrastructure and great people. MCHI has been committed to growth of the real estate sector and is credited with the harmonious growth and rise in quality and standards of construction in Thane City in the past decade.
Its aim as an Association of Developers has been to seek rational rules and regulations which are uniformly applied across the board as this will to a great extent result in speedy construction, cost reduction, fair pricing and a push for better quality standards at par with the developed world, with a high level of transparency.
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501, 5th Floor, Plot No - A-123/4,
Odyssey IT Park, Road No. 9,Wagle Estate
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MCHI-THANE has always been very clear that fine housing complexes and shopping malls cannot stand in isolation. A great City is the sum total of great buildings, great infrastructure and great people. MCHI has been committed to growth of the real estate sector and is credited with the harmonious growth and rise in quality and standards of construction in Thane City in the past decade.
Its aim as an Association of Developers has been to seek rational rules and regulations which are uniformly applied across the board as this will to a great extent result in speedy construction, cost reduction, fair pricing and a push for better quality standards at par with the developed world, with a high level of transparency.
Contact
501, 5th Floor, Plot No - A-123/4,
Odyssey IT Park, Road No. 9,Wagle Estate
Thane (W) - 400 604, Maharashtra, India
Mobile : (+91) 9833 4583 23 E-mail: mchithane@gmail.com
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