The Maharashtra cabinet on Tuesday has decided to allot land to the Maharashtra Housing and Area Development Authority (Mhada) for constructing homes under the Pradhan Mantri Awas Yojana (PMAY) at a n
The Maharashtra cabinet on Tuesday has decided to allot land to the Maharashtra Housing and Area Development Authority (Mhada) for constructing homes under the Pradhan Mantri Awas Yojana (PMAY) at a nominal rate of Rs 1 per square metre.
The Mhada in its financial budget for 2016-17 had targeted to construct 10,000 affordable homes in the Mumbai and Konkan regions for economically weaker sections (EWS) under the PMAY for which it has allotted Rs 258 crore for acquisition of land across the state.
Earlier in April, the Centre had also announced that a sum of Rs 90 crore would be granted for constructing 1.09 lakh homes under the PMAY in the state. The Pradhan Mantri Awas Yojana (PMAY) has replaced the Rajiv Gandhi Awas Yojana (RGAY) after the BJP government came to power in 2014. Prime Minister Narendra Modi launched PMAY on June 25, 2015. Under PMAY, an individual whose monthly family income is not more than Rs 25,000 is liable to get subsidy of Rs 2.5 lakh where the Centre funds Rs 1.5 lakh and the state Rs 1 lakh. Also, the house would not measure more than 30 square metres (322 square feet).
According to the cabinet decision, further 50 per cent concession will be given in surveyor and development cost and stamp duty would be fixed at Rs 1,000 for houses meant for EWS. The profit sharing ratio between the Mhada and the local body of the city will be 70:30 for constructing homes for middle income group (MIG) and higher income group (HIG) under the PMAY.
The Mhada had received around 78 proposals initially for constructing homes under PMAY from various municipal corporations and zilla parishads of the state. There are around 51 cities in the state where PMAY scheme will be implemented.
