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MHADA may approve housing scheme in Virar

25 October 2010: MHADA is likely to approve a unique scheme (swiss challenge system) of housing redevelopment on its land in Motilal Nagar in Goregaon (west).

If the plan goes through, MHADA will receive nearly 15,000 tenements in Virar, along with 1,500 MIG tenements in Motilal Nagar. The Motilal Nagar housing colony of MHADA is situated on 128 acres of land with 3,628 tenements allotted to the LIG. MHADA earlier implemented the swiss challenge system scheme in the Konkan board.

The system is a scheme where the offer made by the private developer is put to tender in open market. If there is any bidder offering a rate more than that of the developer, the developer has to comply with the same rate to bag the project. The process, including the merits of the proposal, is subjected to a critical evaluation at the state government level.

Source: DNA