Mumbai's housing difficulties are poised to improve somewhat in the forthcoming year. The city will witness the initiation of its very first rental housing endeavor, consisting of 35,000 homes situated in Vasai’s Tiwri village. Dhanashree Developers will spearhead this project, which falls under the Mumbai Metropolitan Region Development Authority’s (MMRDA) ambitious blueprint to construct a staggering five lakh rental residences over the next five years. This pilot initiative will occupy 50 acres and will offer residential units sized at 160 square feet, each of which will encompass a designated cooking area, bathroom, and water closet amenities.
The MMRDA has outlined specific criteria for eligibility, stating that these homes will exclusively be made available to authentic Maharashtrians possessing a domicile certificate from the state. Furthermore, applicants must demonstrate a monthly income exceeding Rs 5,000 to qualify. As for the rents, these will be quite affordable, ranging between Rs 800 and Rs 1,000, aimed at addressing the pressing housing needs in the region.