Maharashtra Housing Minister Urges Developers to Build 1.25 Lakh Homes for Mill Workers
Maharashtra Housing Minister Atul Save calls upon developers to build 1.25 lakh homes for mill workers, NAREDCO commits to boosting affordable housing
Maharashtra Housing MinisterAtul SaveNaredcoAffordable HousingSlum RedevelopmentReal Estate NewsAug 29, 2024
The government is sympathetic towards the housing needs of mill workers, and we are willing to consider concessions in registration and stamp duty to boost affordable housing, Save said. NAREDCO Maharashtra has requested further concessions in stamp duty and registration of housing properties to boost housing sales.
The state government has already given a one percent reduction on registration to women who want to buy a residential property. We will also think of what other concessions for registration could we extend, Save said. The government will consider major suggestions coming from the NAREDCO's forum in the new housing policy.
MHADA has a stock of 2000 houses, and we have received 30,000 applications. We have announced a reduction in the cost of MHADA houses on declared price with respect to the surplus tenements received under Sections 33(5) and 33(7) only, Save informed.
The Additional Chief Secretary, Housing Department, Government of Maharashtra, Valsa Nair Singh informed that the government will soon introduce new policies such as Amnesty scheme for stalled SRA projects and the new PAP Policy for timely completion of redevelopment projects.
The Chairman of NAREDCO National, Dr Niranjan Hiranandani formally requested the state government to allocate 5,000 slum redevelopment projects to the industry body. This initiative is a significant step towards strengthening Public-Private Partnerships (PPP) and redefining the landscape of Mumbai's real estate sector.
The President of NAREDCO Maharashtra, Prashant Sharma commented on the recent developments and challenges in the Indian residential sector. The market has seen unprecedented expansion since the pandemic, with Mumbai and Pune leading a revival that accounted for nearly 54% of new launches last year.
The residential market in Mumbai has surged by 30-40%, with increasing demand for larger homes and improved lifestyles. NAREDCO remains committed to enhancing Mumbai's development through strategic partnerships.
NAREDCO remains committed to boosting affordable housing and enhancing Mumbai's development through strategic partnerships. The industry body aims to play a pivotal role in transforming Mumbai into a slum-free city, setting a benchmark for urban redevelopment and inclusive growth
The Vice Chairman of NAREDCO India, Rajan Bandelkar said that it is crucial to review and adjust government fees and limits to maintain competitiveness and attract investment. Current premiums are deterring developers from taking on redevelopment projects.
The Vice Chairman, NAREDCO Maharashtra, Sandeep Runwal discussed the current state of the residential real estate market and said that the industry is witnessing unprecedented growth and engagement, reflecting the thriving residential sector's recovery since the pandemic.
Frequently Asked Questions
What is the number of homes that Maharashtra Housing Minister Atul Save has urged developers to build for mill workers?
1.25 lakh
What is the current state of the residential real estate market in Mumbai?
The residential market in Mumbai has surged by 30-40%, with increasing demand for larger homes and improved lifestyles.
What is the name of the scheme launched by the government to provide housing for marginalised communities?
Pradhan Mantri Awas Yojana
What is the number of slum redevelopment projects that NAREDCO National has requested the state government to allocate to the industry body?
5,000
What is the name of the policy that the government will soon introduce to provide amnesty to stalled SRA projects?
Amnesty scheme for stalled SRA projects
Related News Articles
Keystone Realtors Raises Rs 800 Crore from Institutional Investors
Mumbai-based Keystone Realtors has raised Rs 800 crore by selling shares to institutional investors
Kerala Police Hand Over Mami Missing Case to Crime Branch to Avoid CBI Probe
The Kerala police have handed over the missing case of Mohammad Attur, a prominent real estate businessman, to the Crime Branch to prevent a CBI investigation.
Home Sales in Noida and Greater Noida Increase by 6% in Q3 2024
The residential property market in Noida and Greater Noida witnessed a 6% surge in registrations during the July-September quarter, with a total of 8,128 units sold, according to real estate consultant Square Yards.
Mumbai Real Estate Market Sees Significant Growth in 2024 with 1.41 Lakh Registrations
Mumbai's real estate market is on track to register 1,41,302 property registrations in 2024, marking an 11% increase from the previous year. The market is showing resilience and a growing preference for premium and spacious homes.
2025 Outlook: The Future of Commercial Real Estate in Tier-II and Tier-III Cities
In 2025, we can expect a significant rise in commercial real estate activity in Tier-II and Tier-III cities across India, driven by factors such as low operating costs, ample space, skilled talent, and infrastructure development.
Maharashtra's Transport Minister Pratap Sarnaik Invites CREDAI to Develop MSRTC Land
The Maharashtra Transport Minister, Pratap Sarnaik, has called on the Confederation of Real Estate Developers’ Associations of India (CREDAI) to participate in the development of 1,360 hectares of land owned by the Maharashtra State Road Transport Corpora