Maharashtra may compel realtors to build low-cost housing
03 Jan 2012
The Maharashtra government has changed the Development Control rules to make it compulsory for real estate companies to reserve 20 per cent of the area in a plot of more than 2,000 sq m for low-cost housing.
The rule will also apply to the development of large housing colonies.
State chief minister Prithviraj Chavan announced this after the weekly cabinet meeting in Mumbai on Monday. Chavan said this decision was taken to ensure that economically backward sections too get an opportunity to buy residential accommodation in upmarket areas in cities like Mumbai and Pune.
However, the rule would only be applicable for housing properties and projects being developed in cities and towns managed by municipal corporation and councils.
Chavan however added that the state government is yet to take a final policy decision on the matter. It has decided to invite public opinion under Section 37 (1) of the Maharashtra Regional and Town Planning Act. Only after considering these will a final decision be taken, he said.
