Hit hard by the slowdown, real estate players are now going innovative and trying to partner with the government to beat the low demand. Real estate players are looking to tap the 4.33 lakh people, who were not allotted houses in the MHADA scheme and have approached the government with a proposal where they can cater to these potential buyers.
The Builders Association of India (BAI), which includes 10,000 real estate players throughout
India, has written to the chief minister of Maharashtra requesting him to appoint MHADA and CIDCO as the nodal agencies for carrying out projects under the controversial Slum Rehabilitation Authority (SRA) scheme. Only 3,683 of the 4.33 lakh applicants were allotted houses in the random selection on Tuesday.
In a letter, a copy of which is with ET, BAI asked for MHADA and CIDCO to be appointed as the official agency for development for executing SRA projects. These agencies could offer free rehabilitation component houses to slum dwellers by constructing multi-storied building as already provided in the SRA, the letter added.
More : economictimes.indiatimes.com
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