MHADA's Big Decision; 7 Lakh New Homes to be Built in the Next 5 Years

The Maharashtra Housing and Area Development Authority (MHADA) has brought a big and delightful news for citizens dreaming of buying a home. MHADA has prepared an ambitious plan to build as many as 7 lakh new houses in the next 5 years. This decision will significantly address the shortage of affordable housing in Mumbai and surrounding areas. Sanjeev Jaiswal, Vice President and Chief Executive Officer of MHADA, stated that more than five and a half lakh of these 7 lakh houses will be built in the Mumbai Metropolitan Region itself. All these houses will be developed under various housing schemes, and their sale will be conducted through a transparent lottery system.

Cluster redevelopment projects are currently underway in areas such as GTB Colony in Sion, SVP Nagar in Andheri, Motilal Nagar in Goregaon, and Kamathipura near Mumbai Central. These projects are expected to create approximately 200,000 new homes in the next 5 to 7 years. Due to the increasing population in Mumbai, rapid urbanization, and rising real estate prices, the demand for affordable housing has significantly increased. Against this backdrop, this new initiative by MHADA will provide great relief to citizens from the middle and lower-income groups.

Meanwhile, the Konkan Housing Board of MHADA has sold more than 13,500 houses in the last three years. Across the state, MHADA has provided approximately 43,000 houses to citizens through 18 lottery draws. This major decision by MHADA is expected to rejuvenate the housing sector in Maharashtra and is considered a historic step towards realizing the dream of affordable housing for Mumbaikars.