The City and Industrial Development Corporation (CIDCO) has planned to construct over 1 lakh affordable homes under the Pradhan Mantri Awas Yojana (PMAY) in Sanpada, Navi Mumbai in an area of 568 acres thereby making it the biggest-ever housing project by any government body in the state.
The nodal agency’s proposal, prepared under the Pradhan Mantri Awaas Yojna during a meeting with the state chief secretary has got a go-ahead. “The project has been planned on a huge land parcel in Sanpada and it will be like a big township with all modern facilities. Already 1.1 lakh homes are being built by CIDCO under PMAY and the addition of these homes will take the figure to close to 2.2 lakh homes,” said managing director, Lokesh Chandra of the state-run infra body.
Under PMAY, the Centre aims to provide housing for all. This scheme entitles one for a subsidy provided they do not own a pucca house anywhere in the country.
For the Sanpada project, authorities have identified the land, said a senior CIDCO official. “We are soon going to verify the status of the plot. The drawing for the construction of the homes is ready.” The homes will be built for the economically weaker section and lower-income group. Officials declined to estimate the cost of the project saying it is in the initial stage.
Chandra said the homes currently being built by CIDCO are in areas that are close to railway stations or have better connectivity.
While the demand for housing in the Mumbai Metropolitan Region is on the rise, there are lakhs of homes lying unoccupied due to high cost. Experts say more and more people are looking for properties in the affordable sector.
Last year, CIDCO had announced a lottery for 14,800 homes, and this year it plans to sell 90,000 apartments through random selection. The planning agency last week applied for registration of 8,000 flats with housing regulator MahaRERA, said an official.
Biltrax Construction Data is tracking 45+ Million-SqFt of Affordable Housing projects being constructed by CIDCO.
For more information reach out to us at (+91) 79771 55121, firstname.lastname@example.org