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Maha govt clears panel to boost foreign housing investment

Indian Community Editorial TeamBy Indian Community Editorial TeamJuly 30, 20262 Mins ReadNo Comments Add us to Google Preferred Sources
Maha govt clears panel to boost foreign housing investment
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Mumbai, July 30 (IANS) Maharashtra Chief Minister Devendra Fadnavis on Thursday gave in-principle approval for a high-level committee to attract foreign direct investment (FDI) into the state’s housing sector, while directing the creation of a grievance redressal cell in the Maharashtra Housing and Area Development Authority (MHADA) to ensure transparency in redevelopment projects.

Speaking at a review meeting on the housing sector, Fadnavis stressed that state-backed urban housing schemes must adhere to timelines and quality standards to achieve the vision of affordable housing.

He called for faster resident transfers in cluster redevelopment projects such as the BDD Chawl scheme and asked officials to assess infrastructure needs for the Kamathipura renewal drive.

Approval was also granted for MHADA to undertake shrine development at Akkalkot, including construction of the Samadhi and temple complex in Phase 1, followed by the Palkhi Marg in Phase 2.

The review covered high-density redevelopment zones across Mumbai, including Abhyudaya Nagar, GTB Nagar, Motilal Nagar, Adarsh Nagar (Worli), Bandra Reclamation, SVP Nagar (Andheri), Ramkrishna Nagar (Khar), Old MHB Colony and Gorai (Borivali), Bharat Nagar (Bandra East), Aram Nagar (Versova), Patra Chawl (Goregaon), and Charkop. “Ongoing housing initiatives by MHADA will deliver an unprecedented volume of homes for middle- and lower-income citizens. Execution must prioritise build quality, transparency, and strict adherence to deadlines,” Fadnavis said.

MHADA Vice President and CEO Sanjeev Jaiswal reported that 15 major redevelopment projects worth Rs 3.70 lakh crore are active across the Mumbai Metropolitan Region (MMR), projected to generate over 2.15 lakh residential units.

Fadnavis directed agencies to expedite housing schemes across Maharashtra, including those under the Pradhan Mantri Awas Yojana (Urban), and ensure timely completion with strict quality standards.

“Implementation must be accelerated so that construction is completed within the stipulated timeframe, allowing for the timely distribution of homes to citizens,” he said.

–IANS

sj/dan

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Indian Community Editorial Team

The Indian Community Editorial Team curates, verifies, and publishes stories that matter to Indians worldwide. From culture and community to business and innovation, our mission is to spotlight voices, ideas, and events that bring our global community closer together. Have news or a story to share? Submit it to us at [email protected].

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