News & Views on Indian Real Estate

Friday, October 03, 2008

The Dream Of Affordable Houses Soon To Become A Reality In Mumbai

As elections are coming closer, the state government has taken a major step towards realizing the dream of affordable houses for the economically weaker sections and the middle income group (MIG). The state urban development department has directed Brihanmumbai Municipal Corporation's (BMC) development plan office to amend development control regulations, making it mandatory for all mega constructions in the city to develop houses for the poor and the economically weaker group. Accordingly, the civic office has formulated a proposal, whereby it will be binding on all private construction measuring 20, 000 sq ft or more to construct houses for the economically weaker sections and low income groups (LIG) on 10 percent of the total built-up area. It will also be binding on them to reserve another 10 percent of the area for the middle income group (MIG). The LIG homes will be 300 to 500 sq ft in area, the MIGs will be 500 to 1, 000 sq ft in area, a senior official from the development plan office said.

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