Page 29 - CO January 2022

TICKER TAPE

MHADA INKS PACT WITH CHADHA DEVELOPERS FOR has already been explored by the state governments of Uttar
AFFORDABLE HOUSING TOWNSHIP NEAR MUMBAI Pradesh, Haryana and West Bengal.
The Maharashtra Housing & Area Development Authority (MHADA)
has entered into a memorandum of understanding with realty CENTRE APPROVES PROPOSAL TO CONSTRUCT 3.61 CONSTRUCTION
developer Chadha Developers & Promoters to develop an LAKH HOUSES UNDER PMAY(U)
integrated residential project spread over 80 acres near Mumbai In the 56th meeting of the Central Sanctioning and Monitoring
under public private partnership. Committee (CSMC) of Pradhan Mantri Awas Yojana (Urban), a total
Chadha Developers & Promoters will be investing around `1,100 of 3.61 lakh houses were approved for construction from 17 States/
crore to develop the project in Vangni over the next four years. The UTs under Affordable Housing in Partnership (AHP), Beneficiary-Led
company will be developing 8,228 apartments across a total 133 Construction (BLC), In-Situ Slum Redevelopment (ISSR) verticals
towers in this project and 50% of these will be reserved under the of PMAY-U.
government’s affordable housing support scheme the Pradhan Presiding over the meeting, Secretary, MoHUA, took up the issues
Mantri Awas Yojna (PMAY)-Urban for the economically weaker about States/UTs regarding the construction of houses under the
section (EWS). Mission. He asked the States/UTs to resolve the issues without delay
“MHADA will be acting as the planning authority for this project so that the construction of houses can be expedited.
that has already been approved by the state and central The construction of PMAY-U houses is in various stages. With this,
government. As the nodal agency, we will also be taking care of the total number of sanctioned houses under the Mission is now
distribution of subsidies worth `1.5 lakh from central government 1.14 crore; of which more than 89 lakh have been grounded for
and `1 lakh from the state government to allottees through PMAY construction and 52.5lakhhave been completed and delivered
(Urban) scheme,” Nitin Mahajan, Chief Officer, Konkan Board of to the beneficiaries. The total investment under the Mission is
MHADA. `7.52 lakh cr, with a Central Assistance of `1.85 lakh cr. So far,
MHADA will also be responsible for screening the eligible `1.13 lakh cr of funds have already been released. The CSMC
beneficiaries, who will be able to buy these houses at `5.61 lakh also accorded approval for revision of projects from 14 States/
after factoring the subsidy benefit. UTs translating into 3.74 lakh houses.
More than 1,000 applicants have already been selected for the Further, Secretary, MoHUA, laid renewed emphasis to accelerate
allotment through a lottery draw in the last two lots since its launch housing construction and completion across the country within
in September 2021. A lottery for around 3,000 flats will be closing stipulated time under PMAY-U so that the goal of ‘Housing for All’
on December 25, while the draw date is January 1. by 2022 can be achieved.
“This is the first time that MHADA has come up with a public- At the CSMC meeting, an e-Finance module was also launched
private partnership. We are excited to enter into a tie-up with by Secretary, MoHUA. The e-Finance module has been integrated
the government for a project that serves the purpose of buying with all modules of the PMAY-U MIS system and designed,
homes at affordable rates to the common people. We have developed within PMAY-U MIS System with the objectives to provide
taken measures to maintain transparency in order to have a a unique platform to all stakeholders for disbursement of funds
long-lasting relationship with MHADA,” said Dimple Chadha, MD, through Direct Benefit Transfer mode & to validate beneficiaries.
Chadha Developers. While launching the module, Secretary, MoHUA, said, “The
Part of the project, under the pact between MHADA and Chadha e-Finance module has been launched with a specific purpose
Developers, consists of 66 towers of 7-storey buildings comprising to remove any sort of misinformation. Now, there will be
4,114 flats of 1 bedroom and the same has secured approval transparency, and all financial data will be captured on the
from the Real Estate Regulatory Authority (RERA). platform.” He instructed that training programmes for officers/
The project will include a commercial shopping complex, school, MIS personnel across States/UTs should be organised region wise
15 gardens and charging stations for electric vehicles in each for the early implementation of the module.
building among key amenities. Secretary, MoHUA, also approved proposals under Affordable
The government has been pushing the supply of affordable Rental Housing Complexes (ARHCs) - Model 2 - in Telangana
housing through various schemes and incentives for the last few and Tamil Nadu. A total of 19,535 units have been approved for
years. The adoption of PMAY policy in 2015, the government of urban migrants/poor, involving a Technology Innovation Grant
India has targeted to meet a demand of 11.22 million homes. of `39.11 cr.
Since the launch of the policy until March, 11.3 million houses Secretary, MoHUA, directed the States/UTs to ensure proper
have been sanctioned, out of which, 4.8 million have been implementation of ARHCs by utilising vacant JnNURM houses.
completed till date. He also encouraged the stakeholders to come up with more
The need for affordable housing in the growing urban sprawls proposals under Model 2 of ARHCs. ARHCs provide affordable
of India has caught the attention of many developers, who rental accommodation to urban migrants/poor in urban
are looking to tap this growing demand. Over 50% of all India areas close to their workplaces. The ARHC scheme is being
residential launches in the top eight cities in the last 5 years have implemented through two models. Under Model 1, existing
been in the sub- `50 lakh segment. Government funded vacant houses are converted into ARHCs
Last year, the government of Maharashtra had invited private real through Public-Private Partnership or by Public Agencies; Under
estate developers to partner with its housing agency MHADA to Model 2, construction, operation and maintenance of ARHCs will
build affordable residential projects across the state. This model be done by Public/Private Entities on their vacant land.

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