MUMBAI: Realty developers’ bodies CREDAI CREDAI-MCHI and CREDAI Maharashtra have entered into two separate agreements with the government of Maharashtra to develop over 9 lakh affordable houses across the state between 2018 and 2022 to support the government’s objective of ‘Housing For All by 2022’.
Members of the developers’ body the Confederation of Real Estate Developers Association of India or CREDAI-MCHI will be building 2.5 lakh homes in Mumbai Metropolitan Region, while remaining 6.5 lakh homes will be constructed across rest of Maharashtra by the members of CREDAI Maharashtra.
“As per these agreements, the state government would facilitate all required support and co-operation through various local authorities, while our builder members will be responsible for faster construction and delivery of these homes,” said Nayan Shah, president-elect, CREDAI-MCHI.
The government has been pushing affordable housing via incentives to both builders and home buyers under schemes like Pradhan Mantri Awas Yojna. Recently, the government announced concessional rate of GST at an effective rate of 8% from earlier 12% to houses spread over up to 645 sq ft constructed and purchased under credit linked subsidy scheme for the economically weaker section.
