MHADA
The Maharashtra Housing & Area Development Authority (MHADA) has entered into a memorandum of understanding with realty developer Chadha Developers & Promoters to build an integrated residential project on an area of over 80 acres near Mumbai under a public-private partnership. Chadha Developers & Promoters will be investing around ₹1,100 crore to develop the project in Vangni where it will be developing 8,228 apartments across 133 towers with 50% of these will be reserved under the government‘s affordable housing support scheme the Pradhan Mantri Awas Yojna (PMAY)-Urban for the economically weaker section (EWS). MHADA will be acting as the planning authority for this project that has already been approved by the state and central governments. As the nodal agency, it will also be taking care of distribution of subsidies worth ₹1.5 lakh from central government and ₹1 lakh from the state government to allotters through PMAY (Urban) scheme. While MD, Chadha Developers, Dimple Chadha, informed that part of the project, under the pact consists of 66 towers of 7-storey buildings comprising 4,114 flats of 1 bedroom and the same has secured approval from the Real Estate Regulatory Authority (RERA).
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