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It is 20 percent area to be reserved for economical housing

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The developers with the layout of over 2000 Sq.Mtrs to reserve 20% of property for reasonable residences has been made compulsory by the Maharashtra Govt. Prithviraj Chavan, Chief Minister of Maharashtra who is also a Housing Minister said to www.propertykhazana.com that after the cabinet conference “Developers are planning the layout for over 2000 Sq.Mtrs and still has to place at least 20% of the property in 30 to 50 Sq.Mtrs localities. Likewise, as the developing residence complex ventures, it will be compulsory for them to maintain 20% of the apartments of 27.88 to 45 Sq.Mtrs localities for the people who are from inexpensively backward classes and from the low income groups.
MHADA will buy the plots and also the apartments at the building price and this will be sold out to the poor peoples through Lottery scheme. Chavan said to www.propertykhazana.com that, “Owing to this plan, the reasonable residences will be accessible in the big numbers which assists to manage the realty rates.” Chavan also added that, “Development Control (DC) policy of Municipal Corporations and Municipal Councils will be modified to add in the essential amendments.”
Source: NIMMA BENGALURU

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