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Pay Rs 11.5 L and grab MHADA's 1BHK in Virar

Subsidy of Rs 2.5 lakh under PMAY makes these flats cheaper than market rate

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Under the Pradhan Mantri Awaas Yojna (PMAY), the common man will have to pay a mere Rs 11.5 lakh for a one bedroom hall kitchen flat measuring 325 sq ft carpet area in Virar. Constructed by MHADA's Konkan Board in Bolinj area, these flats are way cheaper than those being sold by developers in the open market.

As per MHADA's estimates, the actual cost of construction of a flat with 325 square foot carpet area currently comes up to Rs 14 lakh and above. A subsidy of Rs 2.5 lakh is available on this price, of which Rs 1 lakh is from the state government and Rs 1.5 from the Centre.

Vijay Lahane, chief officer, Konkan Board, MHADA, said, "We have land in Bolinj area of Virar where MHADA has already allotted homes in the past." Under this scheme, the authority is planning to develop two 14-floor buildings on half a hectare of land, however, the number of homes hasn't been finalised as yet.

The current rate in the area is Rs 4,600 per square foot and above. When a private developer sells a flat with 325 square foot carpet area, he also adds a minimum of 100 to 150 square foot of built-up and super built-up to the flat's total area, the cost of which is borne by the buyer. In comparison to the market rate, the authority is selling the flats at a cost that is nearly three to four lakh lower.

In Virar itself, the authority has nearly 4,000 flats that are under construction and the carpet area of most of these flats is 425 square foot. "The construction cost for the bigger flats which are under construction right now goes up to Rs 20 to 22 lakh. Even on these flats, a subsidy of Rs 2.5 lakh shall be applicable," said Lahane.

PMAY SCHEME

  • These homes are being constructed under the government's ambitious PMAY scheme.
     
  • The state has set a target of providing around two million homes by 2022.
     
  • The number of applications received from the state for affordable housing is close to 23 lakh.
     
  • Under the scheme, any citizen who doesn't have a house in their name can apply, and the process is linked to Aadhaar.
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