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Mumbai: 20% land reservation mandatory

The Maharashtra government on Monday made it mandatory for developers with layout of over 2000sq mt to reserve 20 per cent of land for affordable housing.



Mumbai: The Maharashtra government on Monday
made it mandatory for developers with layout of over 2000
sq mt to reserve 20 per cent of land for affordable housing.

Chief Minister Prithviraj Chavan who also holds the
Housing portfolio told reporters after the cabinet meeting
that developers preparing layout of more than 2000 sq mt, will
have to set aside atleast 20 per cent of the land in 30 to 50
sq mt area.

Similarly, while developing housing complex projects, it
will be mandatory for them to reserve 20 per cent flats of
27.88 to 45 sq mt area for people from economically backward
classes and low income groups.

The plots and flats will be purchased by MHADA at
construction cost and sold to needy persons through lottery
system.

Chavan said due to this initiative, affordable houses
will be made available in large numbers which will help to
control the real estate prices as well.

Development Control (DC) rules of municipal
corporations and municipal councils will be amended to
incorporate the necessary changes, Chavan added.

PTI

From Zee News

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