A "low interest" loan shouldn't mean you have very little interest in paying it back!
The Maharashtra Housing Board was established in 1948 at which time it was called the “Bombay Housing Board”. It took on the responsibility of constructing residential properties for various demographics under different housing schemes throughout Maharashtra state (except the region of Vidarbha).
The Maharashtra Housing and Area Development Authority (MHADA) came into existence in 1977. It now controls and coordinates 7 regional housing boards in Mumbai, Pune, Nashik, Amravati, Aurangabad, Nagpur, and Konkan. It also controls and coordinates two special boards called the Mumbai Slum Improvement Board and the Mumbai Building Repairs and Reconstruction Board. In Mumbai alone, it has constructed more than 3 lakh housing units.
The Maharashtra Housing Development Corporation was formed by the Government of Maharashtra with the main objective of constructing 5 lakh affordable housing across the state by the year 2022. It is now called “MahaHousing”.
The Central Government had launched the Pradhan Mantri Awas Yojana – Housing for All (Urban) to provide home loan for all to coincide with India’s 75th year of Independence in the year 2022. In Maharashtra alone, the target to be reached by 2022 is 19.40 lakh houses. MahaHousing was launched with the primary objective of constructing at least 5 lakh affordable houses across the entire state by the year 2022.
Some of the important objectives of the board are as follows:
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