PMAY Maharashtra 2018
The Maharashtra Housing Area Development Authority (MHADA) Policy is a complicated one. Under this policy, the state government will provide affordable housing units to poor people under Pradhan Mantri Awas Yojana. Under this policy, the state government will assure that about 15 lakh affordable homes can be built in the state. Govt. will start construction work of these 15 lakh houses in a joint venture with private landowners under PM Awas Yojana.
Apart from this, the state government will also provide an additional 2.5 Floor Space Index (FSI) for houses build under the PM Awas Yojana.
PMAY Maharashtra 2018 – 50% Affordable Houses at Reckoner Rates (RR)
Under the MHADA Policy, the Maharashtra Government has issued new directions to sell 50% of housing developed under PMAY at RR rates. Till date, developers sell the flats at 20% to 25% more cost than Reckoner Rates (RR rates). The government also offers an additional 2.5 FSI incentive to the developers building houses under PMAY Maharashtra 2018. Therefore, all the developers will have to hand over 50% of the total PM Awas Yojana housing units constructed to Maharashtra government. Apart from this, the remaining houses can be sold at the market rates.
A total number of 30 Developers in Maharashtra have agreed to enter into Public Private Partnership (PPP) model for the construction of low-cost houses. The Housing Department has issued a new notification for this purpose. For this, all those private landowners who have over 10 acres of land are eligible to participate in the scheme.