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Maharashtra to build 1.5 million affordable homes: Minister

IANS  |  Mumbai 

The government plans to build at least one million affordable homes in the Metropolitan Region and another half a million across the state, said here on Thursday.

Additionally, the state plans to improve infrastructure in MMR and other cities with private partnership in order to fulfil Narendra Modi's vision of 'Housing for All' by 2022, he added.

Mehta was speaking at the conference on 'The Future of Investments in India's Real Estate Sector'.

Speaking on the occasion, Metropolitan Region Development Authority's said that the city's infrastructure needs to keep pace with the real estate growth and demand since has grown exponentially in the past decades.

"Projects like Metro Rail, International Airport, Mumbai Trans Harbour Link and others will make connectivity more effective and efficient from end-to-end," Darade said.

said that the government's focus is on transforming the state into a preferred destination for businesses by improving the infrastructure and connectivity.

"We want to project as a gateway for industrial development in and prepare a roadmap to making the state a trillion-dollar economy by 2025. Fast-growing cities will present a wider range of risk-and-return opportunities, so collaborating with government will become more important," Sethi said.

Neel Raheja, who is the of the CII National Committee on Real Estate and Housing, said the biggest achievement of the government was the implementation of the new Development Plan for Mumbai by the

"This will help realise Modi's vision of a connected and transformed India, where every Indian will have a roof over his head. The policy reforms in the sector have been a move in the right direction in boosting investor sentiment," Raheja said.

State Bank of MD (Retail and Digital Banking) P.K. Gupta said that the problems of financing housing projects in are well known, and adequate funding for the realty sector has always posed a challenge.

"Another challenge is how to effectively market projects in the current environment while conducting business ethically. For the realty sector, understanding the present challenges and opportunities ahead is imperative for them to completely transform and move ahead," Gupta said.

The conference was attended by over 200 delegates representing various stakeholders like real estate developers, and financial sector, architects and engineers.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, May 17 2018. 19:30 IST
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