The Maharashtra Cabinet on Tuesday approved the formation of the state housing development corporation to boost the implementation of the Pradhan Mantri Awas Yojana. Chief Minister Devendra Fadnavis chaired the meeting of the cabinet ministers. After the meeting, Prakash Mehta, Minister for Housing said that the corporation will boost PM housing scheme as well as speed up mega housing projects.
The minister also said, “The government aims to complete five lakh houses for economically backward classes and low and medium income group beneficiaries through MahaHousing. It will be affordable housing”.
The Maharashtra Government aims to complete 19.40 lakh houses under the PM Awas Yojna by the end of 2022. And the Central Government gave its nod to build such houses in cities across the state, the minister said.
The project will be implemented via PPP [Public-Private Partnership] as well as a joint venture scheme. The minister also said that the Government has decided to form a separate agency apart from MHADA [Maharashtra Housing and Development] as it important to implement the PMAY scheme in a timely manner.
The minister also shared the news that Devendra Fadnavis the Chief Minister will be the chairman of the corporation and the Housing Minister will hold the chair of additional president.
The term of the corporation will end in the year 2022 or till the PM Awas Yojana target is achieved. Also, the funds for the corporation will be raised from MHADA, Slum Rehabilitation Authority (SRA), ShivShahi Punarvasan Prakalp (SPPL) and through investment from other agencies.
Prakash Mehta, the Housing Minister also said that the option to raise funds from the market and banks will also be open.