According to the news, Mhada redevelopment projects no longer require approval from the Maha government. The State Government has overturned yet another judgment made by the Maha Vikas Aghadi (MVA) and will no longer require housing department permission for Mhada redevelopment projects that have been granted by the Maharashtra Housing and Area Development Authority (MHADA).
Before diving deeper into the MHADA redevelopment projects report, do you know about MHADA?
MHADA is known as Maharashtra Housing & Area Development Authority. It is established by the Maharashtra Housing and Area Development Act, 1976. The state’s seven regional housing boards—Mumbai Building Repairs and Reconstruction Board and Mumbai Slum Improvement Board—as well as two special purpose boards—Nashik, Nashik, Nagpur, Amravati, and Aurangabad—are currently coordinated and controlled by MHADA. It has built around 3 lakh housing units in Mumbai alone.
Recently in May 2012 Lottery Scheme, MHADA unveiled a low-cost housing program offering 2,593 flats in Mumbai and Mira Road. The lack of housing stock, according to MHADA Chairman Uday Samant, may prevent MHADA from holding a lottery for three years. As of August 2019, MHADA’s stock consisted of just 217 homes. The organization intended to start the process on August 6, 2021, for the distribution of affordable homes in places including Virar, Mira Road, Shirdhon, Khoni, Gotheghar, and Vengurla.
Now, let’s discuss the Mhada redevelopment projects and approvals reports…..
In light of the Patra Chawl Redevelopment fraud, the MVA issued a circular in March 2019 making housing department clearance necessary for all MHADA projects.
Currently, the government is granted both administrative and approving authority. It is necessary to decentralize these capabilities to expedite the execution of development projects. The scenario that existed before the March 2021 circular’s release must be preserved.
Although the Government is held accountable when something goes wrong and becomes challenging to address on the floor of the house when such concerns are highlighted, the Government has little knowledge of what is occurring in MHADA projects.
Previously, MHADA sells its real estate property in Maharashtra to provide low-cost housing options to the builders in Pune and the people of Maharashtra. For more than a year, MHADA has been selling off its real estate. But it’s only now that the company is speaking out more than usual about it.
Over the past decade, though, MHADA has focused on developing premium housing options. The cost of MHADA houses has significantly increased as a result of this. Now, MHADA has decided to shift its focus back to affordable housing.
This move is expected to benefit both the corporation as well as its customers. While the MHADA will once again be able to offer low-cost housing options to its customers, the latter will get to own a home (with MHADA loans) at prices that are much lower than what they would have had to pay before.
Affordable housing alternatives are available to everyone in MHADA dwellings. Consider purchasing an MHADA property if you’re looking for a house that’s inexpensive, convenient, and has the potential to increase in value over time. The only consideration is that MHADA homes are in high demand, therefore you must move quickly.
There are several real estate builders in Maharashtra, and they provide a range of residences. However, Mumbai and Pune provide a large selection of high-quality residences and apartments. For inexpensive apartments in Pune, get in touch with us soon. Schedule a visit to one of our beautifully constructed houses in Maharashtra and take advantage of the modern amenities available in your neighborhood.