Maharashtra New policy : 20% reservation for affordable homes

The Maharashtra state government has made it obligatory to reserve 20% of the plot of land for smaller sized affordable (low cost) housing for all those projects which are spread above 2,000 square meter plot of land.

Mr.Chavan, CM, Maharashtra said, ''This move will control the rising real estate prices. Development Control Rules (DCR) of municipal corporations and municipal councils will be amended to incorporate the necessary changes".

New policy..!

This new policy would be applicable to the 26 municipal corporations and all municipal councils in the Maharashtra state.

The main objective to issue notice by the state urban development department to urge the concept of inclusive housing at a time when most developers, especially in Mumbai, are in the business of creating luxury housing.

Flats Reserved..!

However, in case of housing developing projects, it will be mandatory for them to reserve 20% flats of 27.88 square meter to 45 square meter area for people from economically backward classes and LIG (Low Income Groups). The reserved flats will be purchased by the MHADA (Maharashtra Housing Area Development Authority ) on construction cost and sold it to the economically weak people and lower income group by lottery system.

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