With a view to complete over 3,500 pending SRA housing projects involving lakhs of people, an agreement was signed between the State Government’s Shivshahi Punarvasan Prakalp Limited (SPPL) and State Bank of India (SBI) on October 10, 2017.
Under the agreement, the SBI will extend unlimited finance to the SPPL to enable it to complete the rehabilitation projects as well as implement the Prime Minister Awas Yojna (PMAY) to provide affordable housing to different income groups like LIG, MIG and EWS.
“As per the agreement, the SPPL will provide initial start-up capital and the SBI will advance construction finance to sale component of housing stock,” said Hon’ble Housing Minister Shri Prakash Mehta.
The SBI will provide credit linked subsidy to developers.
“While houses admeasuring 269 square feet are constructed under SRA, the houses admeasuring 30 to 60 square meters will be constructed under the PMAY. The attempt will be to encourage developers to construct affordable houses, which attract a large number of home seekers,” Shri Mehta said adding, “a technical committee comprising of the SPPL, SRA and other Departments will be set up to monitor the developments.”
“As of now, thousands of SRA projects are pending for the last 10 to 15 years. Some of them are stuck in court litigations. Resultantly, the dwellers either languish in transit camps or continue to reside in cramped houses,” Shri Mehta said adding, “the SRA projects are expedited as per the promise was given by Chief Minister Devendra Fadnavis, to ensure that the slum dwellers get a house of their own.”
On the pending Dharavi Development Project, Shri Mehta said, “The entire project will be apportioned with more phases so that the redevelopment work could be allotted to different developers to ensure that the project is completed within the specified time limit.”
Shri Deepankar Bose, Chief General Manager, SBI, SPPL's Managing Director Debashish Chakrabarty and officers from housing department were present on the occasion.