Real estate companies in Mumbai plan to partner with the Maharashtra
Government in setting up 50,000 affordable houses for middle and lower income
groups in the next five years in the Mumbai Metropolitan Region (MMR). The MMR
comprises Mumbai and the adjoining cities and towns such as Thane, Dombivli,
Kalyan, Vasai, Virar, Mira Road and Nalasopara.
The project is expected to entail an investment of over Rs 15,000 crore.
Houses of 160 to 600 sq ft are proposed to be created. The floor space index
proposed (the ration of total built-up area allowed on the given land area) is
three. The project is likely to be implemented under the aegis of the
Maharashtra Chamber of Housing Industry.