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G. Policy towards creates large housing stock on ownership and rental
basis.
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H. Minimum FSI in each City to be at least TWICE the exist-ing FSI
for creation of large housing stock in all the cities of Maharashtra and for
Mumbai.: In Island city - FSI 4 or re-house area plus 100% incentives, whichever
is more. In suburbs - FSI 2 plus TDR FSI 2 max. uptoFSI 4.
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I. Promote Rental Housing by making effective changes in RentAct.
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J. Simple & clear policy to be implemented to mobilize global
resources (including FDI) in housing and urban infrastructure sectors.
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K. Efforts to release Government control land Railways, airport
authorities, BPT, salt pans, etc and allow development of LIG housing stocks
with maximum permissible FSI of 4 to 5.
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L. No acquisition of private properties for redevelopment at illusory
amounts through governmental agencies MHADA, MMRDA & MCGM.
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M. Abolish Urban Land Ceiling & Regulation Act 1976. |
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8. Suggestions on Finance:- |
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A. Offer incentives to housing finance institutes for funding
projects of EWS, LIG & SRA.
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B. Waiver / substantial reduction of Stamp Duty on residential
mortgage backed
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C. Housing for masses to be treated as infrastructure projects having
exemptions of property tax, service tax for atleast StolOyears.
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D. Exemption in Income Tax for next 10 years for construction of
residential premises of carpet area of 2000 sq.ft. and 20% of total development
as commercial premises. Further, Private Sectorshould be motivated by giving Tax
holiday for 10 years to invest a part of their profits in housing.
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E. Amendment through Government of India of Income Tax Act of Section
80 C (xvi) (a), 80 1 (b) for mobilization of resources by financial institution,
private sector and I.T. exemption for 10 years
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F. Setup "Real Estate Investment Trusts (REITS)" / Real Estate Mutual
Funds (REMF) for Real Estate Development.
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9. Suggestion on Legal & Regulatory Reforms
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A. Registered Architects be allowed to sanction building plans on
behalf of MCGM.
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B. Rent Control Legislations should be amended to stimulate
investment in rental housing in line with a Model Rent Control Act & National
Housing Policy 2005 & Directions of SC order dated 19-12-1997.
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