Union Minister Urges Developers to Explore Affordable Housing in Smaller Western Maharashtra Cities
Union Road Transport Minister has urged real estate developers to explore opportunities beyond major cities like Pune and instead focus on smaller cities in western Maharashtra. Speaking at the annual general meeting of the real estate body Credai, the Transport Minister emphasized the potential in areas like Kolhapur and Satara, where prosperous farmers with annual incomes exceeding Rs 40 lakh might be interested in affordable housing. He suggested the concept of smart villages with cost-effective housing solutions, which could help reduce land costs and meet the rising demand for such homes. The Transport Minister also called for the adoption of innovative construction technologies and alternative building materials to lower construction expenses, thus addressing the challenges of affordability in the real estate sector.
Moreover, the Transport Minister highlighted the need to reconsider the reliance on steel and cement for construction materials, as limited competition in these sectors drives up prices. He encouraged industry bodies like Credai to collaborate with institutions such as the Indian Institute of Technology (IIT) to explore alternative materials and construction methods. Additionally, he discussed government initiatives to alleviate traffic congestion in Pune, including plans to invest Rs 50,000 crore in constructing multiple flyovers and enhancing load-bearing capacity to minimize the number of pillars. The Transport Minister's holistic approach aims to address housing affordability and urban infrastructure challenges in the region.
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