News & Views on Indian Real Estate

Friday, October 17, 2008

MMRDA Plans To Seek International Help For Housing Project

The Mumbai Metropolitan Regional Development Authority () is planning to seek international help for its rental housing project, a 'slum prevention programme' under which the authority intends to create five lakh houses for the urban poor in the Mumbai Metropolitan Region (MMR). The Rs 20, 000 crore project is to be completed with the next five years. Chief Minister, Mr. Vilasrao Deshmukh met officials of UK during his visit to Europe. There was a series of discussion among them. The federation has experience of constructing about 20 lakh tenements, which includes affordable houses as well as rental houses across the UK. As per a report given by the MMRDA, population growth in Mumbai is two lakh on an average per annum while growth in slums is around 1.20 lakh per year. Fifty percent of this growth is by migration and the balance is natural growth. The project will be implemented in MMR except municipal corporation area of Mumbai as the corporation has expressed its inability to provide land for these houses.

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