Builders to work with state for cheap homes

A total of 9.15 lakh affordable homes in Maharashtra will be built by developers between 2018-2022. Of this 6.65 lakh affordable homes by developers associated with CREDAI-Maharashtra will be constructed in rest of Maharashtra while, CREDAI-MCHI will be constructing 2.5 lakh homes in Mumbai Metropolitan Region. 

The representatives of both the organisations met the Housing Secretary Sanjay Kumar on Tuesday to finalise the arrangement. A Memorandum of Understanding will be signed during the Magnetic Maharashtra Convergence to be held between February 18-20.

Haresh Chedda, president CREDAI-Builders Association of Navi Mumbai, said, “We sat together and presented our willingness to construct these homes in Maharashtra. We have a definition for affordability and it will be based on the size of apartments, like 30 sq m and 60 sq m. There are so many incentives from the government that we have to construct affordable homes.”

Pankaj Kapoor, MD, Liases Foras, a Real Estate research firm, believes that builders will deliver on affordability. “The government has brought in incentives for the affordable housing sector. Developers will do their bit.”