On Tuesday, Maharashtra Chief Minister Devendra Fadnavis chaired the Maharashtra Cabinet meeting where it was decided to form the state housing development corporation to boost the implementation of Pradhan Mantri Awas Yojana (PMAY).
The state has set a target to complete 19.40 lakh houses under the PM Awas Yojna by the end of 2022. The State Housing minister Prakash Mehta said that the project will be implemented through public-private partnership as well as a joint venture scheme. He added that to implement the scheme in a time-bound manner, there was a need to form a separate agency other than Maharashtra Housing and Development Authority and that is why the decision to form MahaHousing was taken.
Mehta added that the corporation will boost PM housing scheme as well as speed up mega housing projects.
The government has to complete five houses for economically backward classes and low- and medium-income group beneficiaries through MahaHousing. It will be affordable housing," the minister said.
The chief minister will be the chairman of the corporation, whereas the housing minister will be the additional president. The term of the corporation will be till the year 2022 or till the PM Awas Yojana target is achieved.
The corporation will raise funds from Maharashtra Housing Development Authority (MHADA), (SRA), ShivShahi Punarvasan Prakalp (SPPL) and through investment from other agencies.