News

30 Aug,16

Project will create affordable housing stock of 900 homes

Source: Daily News & Analysis

As some of the nodes of Navi Mumbai have reached to saturation point for fresh development, and possibility of affordable homes has almost died down in remaining nodes, Navi Mumbai Airport Influence Notified Area (NAINA) is being seen as the only destination for affordable homes. On several occasions, city developers have echoed that affordable homes is only possible in NAINA and there should not be any delay in getting approval from the state government for pilot project. Finally, a mega project has received approval from the City and Industrial Development Corporation (Cidco), which is special planning authority (SPA) for development in NAINA, where a total 947 units of homes will be built for economically weaker section. The special township project in Panvel and Talegao taluka received commencement certificate from NAINA in second week of August.
The detail of the execution of the project is not available however the EWS homes will come up in three phases. In the first phase, 282 homes, 291 in second phase and 374 EWS homes will be built in third phase. The mega township is spread on around 4,31,675 sq metre area and the EWS homes will come up on around 34,000 sq metre area which is 20% of the total built-up area. According to real estate expert, the project will change the perception of people about NAINA. “The project will make available good supply of EWS homes. Over 900 unit homes for EWS in a single project with all amenities is one of the biggest developments,” said the expert.

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