MHADA to build 2.5 lakh affordable homes in Mumbai in five years

This initiative will be implemented through a combination of new construction and redevelopment schemes, in an effort to reduce the cost of these homes by up to 30 percent.

In recent years, the soaring cost of real estate in Mumbai has made homeownership a distant dream for many.

This has led to an overwhelming demand for MHADA’s lottery houses, with each house receiving over 40 applications. In the latest lottery, for example, 1.29 lakh people applied for just 2,030 homes, while a similar lottery in 2023 saw 1.09 lakh applications for 4,082 homes. The limited number of houses compared to the massive demand means that many hopeful applicants are left waiting for years.

Sanjeev Jaiswal, CEO of MHADA said. “Our aim is to ensure that more affordable housing options are available to residents of Mumbai and the surrounding metropolitan region.” To accelerate progress, MHADA has revised several of its policies and is working closely with private developers to realise these ambitious housing goals.

In addition to addressing the demand for ownership homes, MHADA is also focusing on rental housing. Anil Wankhede, Deputy CEO of MHADA, announced that the authority would build rental homes for specific groups, including students and women migrating to Mumbai for work. “We understand that rental housing is a major concern for many people coming to Mumbai,” said Wankhede. “Our focus will be on providing affordable rental solutions for these groups.”

The broader plan for MMR, as outlined by NITI Aayog, aims to build 30 lakh affordable homes in the region by 2030, with MHADA taking responsibility for constructing 8 lakh of these homes. Of these, 2.5 lakh will be built in Mumbai itself.