Hindustan Times-MHADA to venture into student hostel, old age home, rental housing sectors
For the first time in the Maharashtra Housing and Area Development Authority’s (MHADA’s) 47-year-old existence, the housing body will foray into diverse housing solutions like rental housing, student accommodation, working women’s hostels, shared units, studio apartments, industrial housing, and old age homes.
According to MHADA officials, the plan to diversify into spaces other than residential and commercial will be part of NITI Aayog’s plan to make the Mumbai Metropolitan Region (MMR) into a $300 billion Gross Domestic Product (GDP) by 2030, from $140 billion in 2023, and eventually $1.5 trillion by 2047. GDP is a measure of the total value of goods and services produced during a specific duration.
