Mhada sets aside Rs 2,411 cr to buy land, build affordable homes

  • 07/03/2013

  • Indian Express (Mumbai)

MHADA finalised Thursday a budget of Rs 4,897.11 crore for 2013-14, with almost 50 per cent of the money or Rs 2,411 crore being allocated for land acquisition and construction of affordable houses. "We have kept aside nearly Rs 750 crore for land acquisition. The largest potential for land acquisition is in Pune. Last year, we scouted for private land and realised there were not many prospects for acquisition under boards such as Konkan, Amravati and Aurangabad. There were a few proposals in Nashik, but the rates were too high and land titles not clear," said Satish Gavai, vice-president and CEO. "The authority also decided to look at green zones for purchasing up to 100 acres or so. There are several such options near Pune, Nashik. Earlier, we had a policy of buying land only in residential zones," he said. MHADA could apply to be designated special planning authority for the area if it purchased big land, Gavai said, adding that this would not only boost its land bank, but also allow the housing board to construct planned townships. MHADA has kept aside Rs 575 crore for land acquisition and construction of low-cost houses in Pune, while the Nagpur board has been allocated Rs 78 crore. Other boards have been allocated much lower sums. For instance, the Aurangabad board has got Rs 18 crore, while the Amravati board has been given Rs 12 crore. The housing board has sanctioned 5,760 houses to be built across the state and 2,736 in Mumbai, with the Mumbai board getting a budget of Rs 674 crore.