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Maha needs 50 lakh new homes to meet ‘housing for all’ target

As part of the Centre’s target under the ‘housing for all’ scheme, the Maharashtra government will have to build 50 lakh new homes by 2022 and for this it can consider some projects based on PPP model, industry body Naredco said.

“Maharashtra will need 50 lakh houses till 2022 if it has to meet the central government’s target of housing for all. So far, the state government’s contribution in creation of housing stock is less than 5 per cent, but we want it to make active participation by taking on some projects on PPP basis for planned development,” Naredco national president Sunil Mantri said.

He said there are many government-owned land parcels in the state which can be developed on public-private partnership model wherein instead of charging premium for generating revenue, the state can have more share in the development and more affordable housing stock can be created.

According to a KPMG report, the current shortage of housing is 19 lakh and will increase by 31 lakh by 2022.

Mantri further said that apart from speedy approvals through single window clearance, the government also needs to review some of its Development Control Rules like 33(7) (redevelopment of cessed buildings) and 33(9) (repairs and reconstruction of cessed buildings).

“The government needs to review these rules to make redevelopment of cessed buildings more attractive for developers,” he said, adding that the state should also normalise ready reckoner rates as well as stamp duty.

On the occasion, KPMG Partner, Real Estate and Hospitality, Chintan Patel said, “To achieve the vision of housing for all, the government needs to accelerate implementation of policy reforms such as ease of approval process, enhance transport and utility infrastructure, increase FSI, develop satellite cities to augment development and rejuvenate existing cities, especially Mumbai.”

According to Patel, investment to the tune of Rs 82,179 crore would be required to create infrastructure needed to support development of housing stock.

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