Tag: affordable housing in Mumbai

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Mumbai: Cabinet Approves 98 Housing Societies Redevelopment in Andheri

MUMBAI: On Tuesday, the cabinet approved a redevelopment initiative for 4,973 flats across 498 plots in Sardar Vallabhbhai Patel (SVP) Nagar, Andheri (West), executed by Mhada. Officials revealed that this land was allocated in 1993 as part of a World Bank project, comprising 98 cooperative housing societies. It includes 24 plots with high-income group apartments, along with 62 plots of 60 sq m and 245 plots of 100 sq m. “Mhada plans to redevelop the existing buildings following the BMC’s Development Control Rules (DCR). This community redevelopment will incorporate modern basic facilities, enabling residents to enjoy spacious homes. The comprehensive…

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Maharashtra CM Questions Rising Mumbai Housing Prices Despite Concessions

Devendra Fadnavis MUMBAI: Chief Minister Devendra Fadnavis expressed his concerns on Thursday regarding the rising prices of flats in Mumbai, despite various concessions offered to the real estate sector, including reduced premiums. At a meeting with CREDAI-MCHI, Fadnavis stated, “Over the past decade, we have made every effort to make housing more affordable based on your requests. However, despite these measures, housing prices have continued to climb. We believed that projects like the coastal road and Atal Setu would lead to lower prices, but instead, prices have soared.” While acknowledging that increasing housing prices can positively impact the economy, Fadnavis…