Making the announcement during the golden jubilee celebrations of the authority at its premises in Bandra (east), Jain said the scheme would be effective from `the golden jubilee year of the MHADA'. He called upon the employees to speed up building of housing stock taking into consideration the rising population and limited space to accommodate them and assured all the help from the state government in this regard.

The government has to construct 77,000 houses as per the Central Government Scheme which is being implemented by the MHADA, he said adding that under the Shivshahi project, 1.25 lakh houses would be constructed during 15 months. MHADA has constructed 3.50 lakh houses during last 50 years and the rate of construction speed would be increased four fold to complete the scheme, he said.