Starting April 15, the state's affordable housing initiative is set to take effect. With a preliminary notification already in circulation, this policy will be formally implemented following the final notification, expected in about a month.
This significant decision emerged from a recent assembly between Additional Chief Secretary for the Urban Development Department, TC Benjamin, and representatives from the Confederation of Real Estate Developers’ Associations of India (CREDAI), covering regions such as Pune, Nagpur, Kolhapur, Nashik, and Aurangabad.
As outlined in the government notification, all projects spanning over 2,000 square meters will be required to earmark 20 percent of either the land or constructed space specifically for small-sized housing units.
Benjamin elaborated, stating, "The state has a dearth of such housing and this initiative will help bring about more such houses in residential projects. It will have to be implemented by the builders after April."
However, builders raised concerns regarding whether the reserved 20 percent land could be in the same vicinity as their projects. After discussions, it was determined that this reserved area could be a bit farther away yet within the same zoning district. Benjamin further explained that, "They have to provide the housing with almost the same kind of infrastructure."
Despite the adjustments, many builders preferred the affordable housing not to be on the same campus as their primary projects, agreeing they could be a short distance away. Satish Magar, a Pune CREDAI representative in attendance, remarked, "We are open to the policy but had some issues, which we discussed."