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Thursday, December 11, 2008

MMRDA,TMC launch rental housing scheme at Karjat

Rent between Rs 800 to Rs 1500 per month

4 FSI for TMC!

Mumbai Metropolitan Region Development Authority (MMRDA), today, announced the commencement of its ambitious rental housing programme at Karjat in partnership withTanaji Malusare City (TMC).

Under the project, TMC, a private developer will provide 6,000 homes of 160 ft each free of cost to MMRDA in exchange for higher FSI and off-site infrastructural support like roads, electricity and water.
Under the first Public Private Partnership(PPP) scheme , MMRDA has given 4 FSI to TMC!

1 FSI which is equal to 6,000 apartments will be for low-cost housing while the remaining 3 FSI will be sold at commercial rates to make the project viable.
Pravin Banavalikar, CEO of TMC told reporters the deliveries of houses will start from May 2009 and all the 6,000 houses will be ready by December next. The entire project is worth over Rs 800 crore, he said.

It will be for the first time such a massive rental housing programme has been undertaken in the state. The last such scheme was developed by the British in 1910 when BDD chawls were constructed at Worli in central Mumbai, he said.
S C Deshpande, joint project director ,MMRDA said the objective of the rental housing project is to discourage the setting up of slums. The houses will be given to the beneficiaries on a leave and license basis for a period which is yet to be decided at a monthly rent of between Rs 800 to Rs 1500 per month. The exact rent is still to be decided.
TMC is currently building India's largest social housing project at Karjat about 100 KM from Mumbai and will be benefited by the infrastructure support like roads, water and electricity which MMRDA will undertake here.

Banavalikar of TMC said the cost of the construction will be Rs 1100\1250 per sq ft and the company's profit will come from commercial sale of units.

Related Stories:

1) To know more about Tanaji Malusare City at Karjat, please, visit their website www.tmcity.in

2) Views of Tanaji Malusare City (TMC) Karjat!

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