MHADA is planning to build 2,000 affordable houses in Mumbai

MHADA’s affordable houses in Goregaon

Soon Maharashtra Housing and Area Development Authority (MHADA) is going to build 2,000 affordable houses in Goregaon of Mumbai and for this MHADA will use nine acres of land, located in front of HyperCITY.

It can be the exiting opportunity for new buyers or investors because now they can own the home in city in affordable cost. According to officials of MHADA, “They have started the process of floating a scheme to bring this land under development”. Now MHADA is planning to build the houses for economically weaker sections, which are from low income and middle-income groups, a senior MHADA official said.

This project or stock is expected to be ready for MHADA’s annual lottery by 2014 or 2015. As the land bank is rapidly shrinking, the concept of affordable housing has been losing steam in Mumbai. Maharashtra Housing and Area Development Authority has a large tract of land within Mumbai, but about 1,500 hectares is occupied by its 105 housing colonies. As of now just about 2 hectares available for development of public housing with MHADA. In December, the Mumbai suburban district collector’s office cleared the encroachments. However, it was encroached upon. The 9-acre land is in question as it has been a part of MHADA’s land bank for many years.

It can be a ray of hope for those who are looking for affordable housing projects in city, as the land can now be used for creating more residential stock.