Affordable Housing
5 lakh affordable homes in Mumbai: Maharashtra Government to rope in L&T, Godrej
10:30 AM
5 lakh affordable homes in Mumbai :
Maharashtra government to rope in L&T, Godrej
Big names, with advanced technology in construction sector, would be roped in by the state government to construct five lakh affordable houses in Mumbai, in the next five years.
"We had a meeting with some of the big companies, including L&T, Godrej, Shapoorji and Pallonji, Shirke Construction etc. These firms have given their presentation and are ready to construct affordable houses in large numbers. They have the advanced technology in this field," said Prakash Mehta, housing minister.
Mehta said they are going to fulfil Prime Minister Narendra Modi's dream of providing affordable houses by 2022. "Funds, of course, are a matter of concern. We are planning to raise money by way of equity. As per the primary plan, Rs 5000 crore will be taken as loan from HDFC Bank. Besides, the world bank has also expressed its readiness to extend financial aid at minimum interest. We are in need of one lakh crore rupee. We are committed to construct the affordable houses. In state, our target is 11 lakh houses including five lakh in Mumbai," Mehta added.
He said once these houses are ready, the ever-soaring cost of living in Mumbai will automatically start sliding. "Before initiating this mega plan, we studied all earlier reports and policies. All suggestions and observations of previous committees on affordable housing will be incorporated," Mehta said.
Pankaj Kapoor, managing director at real estate research firm Liases Foras, welcomed the government decision. "If the government wish, they can stabilise the sky-rocketing housing prices. The big construction firms have the capacity and technology to construct this many houses in the given time frame. Besides, quality of the houses will be also good. There are many who are not interested in buying government houses. Once these big firms step in, the scenario will completely change," Kapoor said.
A senior government official pointed out that most of the renowned constructions in Mumbai have been done by L&T only. "The L&T will surely help to construct record number of houses. Moreover, it will impart professional touch as well. People do not need to wait for getting the lot. The government houses will be sold in open market," said a government official, requesting anonymity.
- by Sudhir Suryawanshi
Source :- DNA
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