Mah Govt plans to encourage private investment in Housing sector

Mumbai, July 23 (UNI) To encourage private investment in housing sector and facilitate housing at afforable prices, Maharashtra government plans to provide a slew of incentives to developers like automatic permission for non-agriculture, no ceiling limit for holding land and floating FSI in the special township area.

The draft housing policy was tabled in the Legislative Assembly by Chief Minister Vilasrao Deshmukh today. The policy will come up for debate next week.

The first draft of the housing policy was published on November 1, 2006.

Mr Deshmukh said the policy has been finalised taking into consideration the public debate, suggestions made by people's representatives, various organisations and individuals.

According to the draft, the government land falling under the township area shall be leased to the developers. The developer can buy agricultural land in special township area. There will be no ceiling limit for holding land for special township project. There will be floating FSI in the township. Unused FSI can be used anywhere in the whole township. The stamp duty rates applicable in the special township area shall be 50 per cent of the prevailing rates. There will be partial exemption from payment of scrutiny fee and 50 per cent concession in payment of development charge.

Development of basic infrastructure and amenities will be an integral part of the project.

The draft policy states that sale-purchase of flats will be on the basis of carpet area only. A dedicated housing infrastructure fund will be created. Construction of transit shelters in class one cities will be encouraged.

Among other highlights are property value index transfer of development rights for Low Income Group (LIG) in identified zones in metropolitan region. Similarly, movement of transfer of Development Rights (TDR) is proposed to be permitted beyond the municipal corporation limit in Mumbai Metropolitan Region (MMR), but it will be linked to property value index base.

Once development permission is granted by Municipal Corporation, Municipal Council, no separate permission for Non-Agriculture will be required from the Collector.

Higher FSI will be given for redevelopment of old and dilapidated buildings if cluster approach is undertaken. This will be an attempt to transform fractured development into cohesive urban unit.

The redevelopment projects will be encouraged through joint ventures. Slum Rehabilitation Schemes on public lands will be implemented through open competitive bidding. The lands owning authority will obtain consent of the slum dwellers for proposed rehabilitation scheme. The consent will be limited to the question whether rehabilitation project may be undertaken or not and not regarding who should be the developer.

Under the policy, redevelopment of old Maharashtra Housing and Development Authority (MHADA) colonies will be allowed by providing higher FSI.

UNI