Maharashtra sets up Housing Corporation for PMAY

Note4Students

Mains Paper2: Governance| Welfare schemes for vulnerable sections of the population by the Centre and States

The following things are important from UPSC perspective:

Prelims: MahaHousing Initiative

Mains level:  Housing for All


News

MahaHousing

  1. The Maharashtra state cabinet has approved the formation of MahaHousing (Maharashtra Housing Development Corporation), a dedicated housing corporation to implement the PMAY in the state.
  2. It plans to build 19.40 lakh houses by 2022.
  3. A separate mechanism was needed to speed up the process of building houses in the stipulated time frame.
  4. The projects are being implemented by the Housing Department, Maharashtra Affordable Housing and Development Authority (MHADA), and local civic bodies.
  5. The projects also include public-private partnership and joint ventures.
  6. Projects for economically backward classes, low income and middle income groups will get an FSI (floor Space index) of 2.5, while those in green zones or no-development zones will get 1 FSI.

Structure and Functioning

  1. MahaHousing will work till 2022, or till the time PMAY continues.
  2. The CM will be its president, while the Housing Minister will be the additional president.
  3. A non-government member will be joint president.
  4. A government-appointed CEO will work as its managing director. The entire staff of the corporation will be outsourced.
  5. Funding for MahaHousing will be raised from share investment by MHADA, Slum Rehabilitation Authority, Shivshahi Punarvasan Prakalp Ltd. and other interested government bodies.
  6. Besides, the corporation is allowed to raise money through loans from banks and financial institutions.
Housing for all – PMAY, etc.
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