Good news, and not just one, awaits Mumbaikars. The Maharashtra Housing and Area Development Authority (MHADA) is set to construct 18,000 homes in Goregaon's Motilal Nagar. Also, for people, who won houses in Sunday's MHADA lottery in the Economically Weaker Sections (EWS) and Low Income Group (LIG) categories, the cost of homes will be lowered by another five per cent. Both the decisions were made during MHADA's last authority meeting.
Goregaon's Motilal Nagar, spread over 142 acre of land, has a total of 3,700 tenants. To rehabilitate these existing tenants, MHADA will require 18 lakh sq ft of land. After the rehabilitation, the body will get an additional 1.20 crore lakh sq ft of land. Madhu Chavan, MHADA's Mumbai Board chairman, said, "In the additional area, we will be able to construct 18,000 homes that will be sold in the open market via MHADA lottery."
The total expense that MHADA foresees for redeveloping Motilal Nagar and for constructing homes meant for sale, is around Rs 5,000 crore. However, by selling off 18,000 homes, the housing authority expects to earn a revenue of Rs 25,000 crore. The body said these 18,000 homes will be one-BHKs.
The authority has also decided to further lower the price of houses won in the EWS and LIG categories. MHADA president Uday Samant said, "We have decided to reduce the price of homes in the EWS and LIG categories. This includes homes that were sold in the lottery concluded on Sunday."
Chavan, during the Mumbai Board's lottery, which concluded on December 16, had written a letter demanding the cost of homes be further reduced. The demand was raised again during the authority meeting and a decision was taken.
Another decision made by the MHADA during its authority meeting is with regard to the repair and reconstruction board. Vinod Ghosalkar, chairman of the Repair Board said, "We have decided to hand over the land title of redeveloped cessed buildings. Currently, MHADA takes care of maintenance and a few other things in these buildings. After implementing the stand, nearly 100 buildings in South Mumbai, that were earlier cessed and now have been redeveloped, will benefit and MHADA will save some money."
Silver Lining
- Goregaon’s Motilalal Nagar, spread over 142 acre of land, has a total of 3,700 tenants
- After rehabilitating existing tenants, the body will get an additional 1.20 crore lakh sq ft of land
- MHADA’s total expenditure for this project is estimated at Rs 5,000 crore
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