PMAY
Img Source : downtoearth

The Maharashtra State Government has recently sanctioned more than five lakh dwelling units under the Pradhan Mantri Awas Yojana i.e. PMAY. According to the reports, more than 3 lakhs housing units are being built for the beneficiaries falling under the Economically Weaker Section in the various areas of Thane, Raigad, and Palghar districts of the Mumbai Metropolitan Region also known as MMR.

The Devendra Fadnavis-led Government approved nearly 5,63,476 affordable houses under the PMAY Scheme launched by the Narendra Modi Government in its first term. All the residential units will be built on the land that is owned by the State government and the private developers all over the State, the reports said. The sources informed that the landowners and the developers are constructing their residential properties for the urban poor in Thane, Raigad, and Palghar districts.

A large number of property owners are developing affordable housing units on their land parcels and will deduct the 50 percent of the same in the construction cost on which incentives of the Floor Space Index (FSI) can be availed.

The dwelling units for the EWS sections should be built in 30 sq m and the residential units for the Lower Income Group (LIG) should measure upto 60 sq m. The Government also planned to slash the rates of such units by Rs 2.5 lakh and out of the total sanctioned units nearly 42 percent will be developed on private lands.

In June, the Maharashtra State Government decided to extend the lease renewal policy for the Government plot in the state excluding Mumbai, the capital city.