HomeDaily NewsThe Afternoon Despatch & Courier: New autonomous corporation to speed up PMAY.

The Afternoon Despatch & Courier: New autonomous corporation to speed up PMAY.

With a view to construct 5 lakh houses by 2022 under the Prime Minister’s Awas Yojana(PMAY) (‘Housing for All’ scheme), the state government has decided to set up the new corporation – Maharashtra Grih Nirman Vikas Mandal (MGNVM) (Maha Housing) which will be an autonomous body solely working for the purpose.

The decision to set up the new housing corporation was taken in a meeting of state cabinet held on Tuesday.

The duration of MGNVM will be till 2022 or till such time PMAY is on. The state Chief Minister will be the president, while the Housing Minister will be the additional president of the proposed corporation. There will be 6 non-government members and the government appointed CEO will be its Managing Director. All the officers and employees will be outsourced and as such there will be no financial burden on the Government.

Since heavy investment is required to construct lakhs of houses, the MHADA, SRA, Shivshahi Punarvasan Prakalp Maryadit (SPPL) and other government agencies will contribute towards the share capital of the proposed corporation which will also be empowered to raise money through banks and financial institutes in the open market. Besides, the grant received from the centre as well as Maharashtra government will also be made available to MGNVM.

Each housing complex will have at least 5000 houses for EWS, HIG and MIG. The housing complexes will be given 2.5 FSI in residential areas and one FSI in No Development Zone.

The Central government has already approved a plan to construct 19.40 lakh houses in 383 towns in Maharashtra, which are being constructed by MHADA, Nagarparishad Sanchanalay (DMA) and other local self governments under the Public Private Participation (PPP) and Joint Ventures. Now all these activities will be co-ordinated by the proposed corporation. This new corporation is being set up as MHADA and SRA are engaged in other work and cannot concentrate on PMAY.