MHADA building in Tardeo shortlisted for Mumbai’s first student housing project

Mumbai: The Maharashtra government has shortlisted a building owned by the Maharashtra Housing and Area Development Authority (MHADA) in Tardeo with compact studio apartments for its first student living project in the city.
Valsa Nair Singh, additional chief secretary in the state housing department, told Hindustan Times that the project is a part of Maharashtra’s new housing policy, which will be released in the next couple of weeks ahead of the upcoming assembly elections.
The idea is to offer “swanky and safe studio apartments” on a rental basis to students in cities like Mumbai, Pune and Nashik, where there is a significant demand for such accommodation given the large number of students coming from outside the state.
“Unfortunately, there are hardly any hostels or student accommodation facilities to cater to them,” said Singh. “This is the need of the hour. To begin with, we have shortlisted the Tardeo building, which is to be approved by the cabinet.” The state government is on the lookout for agencies, especially universities and colleges, that can run and manage these facilities on a rental basis, she added.
Once this project takes off and gains momentum, plans are afoot to prepare a detailed road map to encourage private developers to enter the fray by incentivising them with extra floor space index (FSI) and reduced premiums.
The new state housing policy will focus on three main areas: senior citizen living, student accommodation and affordable housing.
The state government recently released a detailed draft policy document on senior citizen housing in the public domain, inviting citizens to provide feedback.
Nair said the government was already in talks with some top developers and stakeholders who have shown a keen interest in taking up the senior citizen housing projects as part of their corporate social responsibility initiatives. “We are also talking to some NGOs and medical centres/facilities to participate, manage and run them on a professional basis,” she added.
According to studies undertaken by various private agencies, the demand for senior citizen housing is expected to grow significantly over the next five to 10 years. With joint families breaking up, real estate developers in Maharashtra have identified senior citizen housing as an important real estate sector.
According to the 2011 census, the elderly (aged 60 and above) account for around 10% of Maharashtra’s population, higher than the national average of 9%. It is projected to reach 27.5% by 2050.
The state government is set to incentivise and facilitate senior citizen housing by offering extra FSI, reduction in premiums, stamp duty exemptions and plot reservations to interested developers. “These housing units are distinctly different from what we know as old age homes,” said Singh. “There is a large population in the 60-plus age group that wants to live a decent, independent and dignified life in the company of like-minded people,” she added.