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In a significant development under the Prime Minister Awas Yojana (PMAY) scheme, the Maharashtra Housing Development Corporation (Mahahousing) has embarked on the construction of 36,000 compact homes in tier-2 and tier-3 cities, including Solapur, Nagpur, Satara, and Titwala, situated within the Mumbai Metropolitan Region (MMR).
The houses, spanning an area of 300 to 600 square feet, are being offered at affordable prices ranging from Rs 9 to Rs 17 lakh, catering to various economic segments, including the economically weaker sections, low-income groups, and middle-income groups. As part of the PMAY initiative, plans are underway to construct an additional 2,200 flats in Titwala, with a tender already floated for the project.
Exciting news for prospective homeowners in Solapur, the first batch of 500 houses designated for the Economically Weaker Sections (EWS) and Low-Income Groups (LIG) will be distributed through a lottery system. With the application process already underway, beneficiaries can acquire these houses for as low as Rs 9 lakh after availing a financial support of Rs 2.5 lakh through PMAY. Construction workers, in particular, stand to benefit, as the price is further reduced by an additional Rs 2 lakh.
Ajit Kawade, the Managing Director of Mahahousing, confirmed that they intend to provide these homeowners with essential amenities, including modular kitchens, water purifiers, and more.
The PMAY initiative has seen significant progress in recent months, thanks to the efforts of the Shinde government, which assumed office in June of the previous year. At the time, the compliance rate for PMAY was languishing at below 35%. However, Deputy Chief Minister Devendra Fadavis, recognizing the urgency of the situation, urged the department to expedite these crucial housing projects. Currently, the state's housing department has successfully completed 64% of its target, which includes the construction of 6.27 lakh houses across the state.
To ensure the successful implementation of these housing projects, the state government has formed partnerships with private builders, offering them various incentives. Besides the Rs 2.5 lakh subsidy provided under PMAY, these incentives include nominal stamp duty of just Rs 1,000, a Floor Space Index (FSI) of 2.5, and the allocation of green zones for housing development. The profits generated from these collaborations are shared at an 85:15 ratio, with 85% going to the private players.
As the Maharashtra Housing Development Corporation strives to bring the dream of affordable housing to life, residents in the region eagerly anticipate the completion of these projects, which promise not only a place to call home but also a chance at a brighter future for many.
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