pune the state has directed developers who have agreed to undertake pradhan mantri awas yojana pmay projects to sell 50 of the lowcost houses developed as part of the scheme at ready reckoner rr rates instead of the maharashtra housing area development authority mhada policywith this houses under the pradhan mantri awas yojana pmay may become more affordable the housing departments move has also assured that nearly 10 lakh affordable homes can be built in the state the maharashtra housing area development authority mhada policy is a lot more complicated we have asked the developers to sell 50 of the houses developed under the pmay at rr rates currently the developers sell the flats at a cost almost 2025 more than the rr rates a senior housing department official said housing department officials said the developers asked to build houses under the pmay scheme were offered an additional 25 floor space index incentive keeping this in mind they should hand over 50 of the total pmay houses constructed to the state government the rest can be sold at the market rate another official saidthirty developers from across the state have so far agreed to enter into a public private partnership ppp arrangement to build lowcost houses the housing department has issued a notification on the new movethe ppp model was introduced to benefit the industry many that owned large parcels of land did not have the financial wherewithal to develop real estate projects now with the incentive of 25 fsi developers can construct and ensure sale of housing projects the rates were earlier fixed in accordance with the mhada policy the rates of the pmay houses will be based either on the rr or the proposed project cost rates whichever is lower the official saidconfederation of real estate developers associations of india maharashtra president shantilal kataria told toi that the policy will increase the housing stock in the state he said it is a good move as the government is offering the developer up to 25 fsi many consumers have welcomed the decision