Nardeco — the umbrella developer body — was formed under the aegis of ministry of housing and urban poverty alleviation of the central government. Niranjan Hiranandani, MD, Hiranandani Constructions Pvt. Ltd., has been made the president of Maharashtra Nardeco unit on Thursday.
The National Real Estate Development Council (Nardeco) has decided to construct one lakh affordable houses on a no-profit no-loss basis. However, the only condition is that the government has to provide the land for it.
Nardeco — the umbrella developer body — was formed under the aegis of ministry of housing and urban poverty alleviation of the central government. Niranjan Hiranandani, MD, Hiranandani Constructions Pvt. Ltd., has been made the president of Maharashtra Nardeco unit on Thursday.
Hiranandani said they will soon meet chief minister Devendra Fadnavis with a detailed plan of affordable houses. He ensured that one lakh affordable and low-cost houses to be built every year for the next 5 years in Mumbai Metropolitan Region in sync with the government of Maharashtra.
"It will ensure and deploy the best possible technologies to deliver to keep the cost low. The allotment of these housing units will be based on stern criteria and lottery system," he said.
"If the government is ready to provide land such as salt pan, we will build houses in Mumbai too. We want to earn a good name for our entire industry. We want to show by this iniative that we also care for the people and their dream home. After throwing this idea, many developers are coming forward and taking the responsibility of a number of houses," said Hiranandani.
Some builders differ
Pankaj Kapoor, MD, Liases Foras, the real estate research firm, said that developers will never construct affordable houses even though land is provided to them. "First thing, why we need developers to construct affordable houses on the government land? Government need contractors to construct the houses rather than the developers. Besides, the urban bodies like Mhada and Cidco should stop selling land in open market and rather use them for the construction of houses only. That will ease the soaring prices," said Kapoor.
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