NEWS

Maharashtra examining first proposal to build affordable homes on salt pan land

June 12, 2019

Mumbai

The Maharashtra government on June 11 made its first move to develop affordable housing on salt pan land, and directed a five-member committee to examine a proposal put forth by developer Shapoorji Pallonji to construct 1 lakh affordable homes.

The salt pan land selected is located in Kanjurmarg-Bhandup, adjoining the Eastern Express Highway. According to a notification issued by the Revenue and Forests Department, a five-member committee headed by the additional chief secretary, finance, will examine the proposal by the developer and submit a report within 60 days. The panel will also examine if the developer should be given the land by paying a premium, or generating housing stock for the government.

In a first-of-its kind move that will ensure faster monetary transmission, the nation’s largest lender State Bank of India, announced linking of its savings deposits rates and short-term loans to the RBI’s repo rate.

The government had made provisions in the Development Plan 2034 to open up 1,600 acres of salt pan lands for affordable housing on a public-private partnership (PPP) basis. Of over 5,000 acres of salt plan land, only 1,600 acres can be used for construction. Satish Nandgaonkar

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