- Dy. CM Chhagan Bhujbal to inaugurate ‘Homes For all’ Convention
- CM Ashok Chavan to address Valedictory Session
In one of the largest Public Private Partnership initiative, aimed at making available five lakh affordable homes in Mumbai and adjoining metropolitan region, Maharashtra Chamber of Housing Industry (MCHI), the umbrella body of developers, will join hands with the Government of Maharashtra.
MCHI will sign an MoU with the state government on April 28, 2010 at a function to be attended by the state Chief Minister Shri. Ashok Chavan. The convention aptly titled “Homes for All”, a major step by MCHI to provide affordable homes to middle and lower income groups living in Mumbai and Mumbai Metropolitan Region (MMR), will be inaugurated by Maharashtra Deputy Chief Minister Shri Chhagan Bhujbal.
The convention will be held at Y B Chavan Auditorium, near Mantralaya, Mumbai.
The day-long convention would be addressed by distinguished guests and speakers such as State Housing Minister Shri Sachin Ahir, Housing Secretary Shri Sitaram Kunte, Vice-President and Chief Executive Officer - MHADA, Shri Gautam Chaterjee, Metropolitan Commissioner, MMRDA Shri Ratnakar Gaikwad, CEO SRA, Shri S S Zende. Prominent bankers, developers, architects also would be attending the ‘Homes For All’ convention.
MCHI will be partnering with the State Government to examine and identify measures to strengthen the housing industry’s role in the socio-economic development of the State. Additionally, the premier housing body will also seek to formulate measures that will aid in the development of affordable homes and ensure their availability across the Mumbai and MMR Region.
Commenting on this major initiative, Mr. Pravin Doshi, President, MCHI said, “it is an historic occasion on how this housing association can be responsive to the dreams and aspirations of common citizens of owning a house in Mumbai. With the participation of over 500 developer members of MCHI and wholehearted support from all the housing agencies and authorities, we would be able to facilitate the creation of five lakh homes in next five years”.
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According to Cushman and Wakefield report, the demand for affordable housing is expected to increase by approximately 400,000 units every year in the country. MCHI is aiming to lend its support to the State Government to address the housing shortage through the establishment of a planning committee that will offer solutions and help to formulate a concrete policy that will ensure the establishment of affordable housing communities.
Mumbai has an immediate demand of approximately 1.4 million homes, of which, 80% of the demand is expected to emanate from the 3-5 lakh income group. There is an unmet demand for basic affordable housing in Mumbai and the MM region due to an increase in land, labour and construction costs. “Residential housing can be made affordable by release of land by the government, increase of FSI, reduced taxes, single window clearance on plans and availability of micro finance. Through this partnership, our endeavour is to arrive at some substantial solutions to cater to this ever-growing need”, Mr Doshi added.
Affordable housing is one of the most talked about issues in the real estate over the past several years. The challenge is to provide affordable homes for every family in Mumbai and the MM Region. There are also very few houses in the affordable income bracket that are being constructed across Mumbai and the distant suburbs. Around 60% of the population of Mumbai lives in informal housing. Therefore, affordable homes should be the focus of all concerned stakeholders. By hosting the Homes for All convention we intend to provide a clear blueprint to address the issues at hand and the appropriate way forward, said Mr Doshi.
“Creation of affordable houses is an overriding priority and it could only be accomplished with active support from all stakeholders”, Mr. Doshi further added.
About MCHI:
Maharashtra Chamber of Housing Industry (MCHI), formed in 1982 is the most prominent body of real estate builders and developers bringing together members dealing in real estate and construction industry on one common platform to address issues facing the industry. Members of MCHI account for providing 80% - 90% of residential accommodation in Mumbai and its vicinity. MCHI helps both the Central and State governments in meeting their objectives of providing shelter. MCHI works towards raising awareness among the general public, real estate and construction industry while providing them with exhaustive information on projects and new developments in and around Mumbai. With over 500 well-recognized and reputed member builders, developers MCHI is affiliated with leading industry associations like FICCI, IMC and CREDAI.