MHADA has decided to build 14,440 homes across Mumbai along with Maharashtra in 2017-18. On Wednesday, MHADA passed the budget of 6,891 crores and 45 lakhs. This years budget is in deficit by 671 crores and 28 lakhs.
MHADA is planning to build homes under the Pradhanmantri Awas Yojna for which they will be spending 1,596 crores and 97 lakhs. However, as MHADA does not have any land in possesion they will be spending 97 crores and 68 lakhs to buy new land. In order to repair buildings, a total of 757 crores will be used. Likewise, MHADA has planned to repair 679 buildings in 2017.
MHADA will be spending 20 crores on Rajiv Gandhi Gramin Awas Yojna by providing subsidy on the loan which will benefit the users, while, MHADA will spent 25 crores on the projects funded by the PM. MHADA recovered 655 crores on releasing houses on lottery. This year, MHADA believes that they will earn 4,266 crores by releasing houses on lottery.