Developers shying away from building affordable homes in city

 Mumbai
Developers shying away from building affordable homes in city

Mumbaikars will have to wait a little longer for new and affordable homes as no developer is still interested in building homes under Pradhan Mantri Awaas Yojna. 

Although Prime Minister Narendra Modi has said that he dreams of providing affordable homes by 2022 to all, MHADA has failed to garner the attention of local as well as international developers so far.

The MHADA's Konkan Mandal had rolled out tenders in February to build 3500 homes in Kalyan, Thane, and Panvel. But there was no response and the tender deadline was extended. MHADA vice-president Sambhaji Zhende said that he is confident that developers will respond to the tenders.

Meanwhile, it seems that builders are not showing interest in Dharavi redevelopment or BDD chawl redevelopment or the PMY. As per MHADA, builders are not investing due to the financial crisis. Whereas builders blame the technicalities and residents protest for various projects, so they stay away from investing.

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