Search
The Indian Express

The Financial Express

Latest News

Screen

Express Computer
Feedback
Travel

Matrimonials

Careers

Lifestyle

Astrology

E-Cards

Columnists

Graffiti

Crossword

Letters

Environment

Jewellery
Info-tech

Power

Steel

Advertisers Forum

Business Forum

Morning Digest

In association with Amazon.com

Books Music

Enter keywords


INDIAN EXPRESS FRONT PAGE

Politics

Business

Expressions

General

World

Sports

Leisure

States

 

Thursday, February 25, 1999

MHADA announces fund-raising drive

EXPRESS NEWS SERVICE  
MUMBAI, Feb 24: Maharashtra Housing Area and Development Authority (MHADA) president Vilas Avachat today declared that the authority will concentrate on fund- raising through large-scale construction and sale of houses.

Avachat said that despite a sound budgetary provision for the coming financial year, MHADA had to work hard to overcome the effect of handing over Rs 300 crore to the Shiv Shahi Punarvasan Prakalp Limited (SSPPL) for the State Government's free slum rehabilitation scheme. He disclosed this at a special meeting where MHADA vice-president, Subodh Kumar, presented him with a surplus budget of Rs 345.39 crore for 1999-2000.

MHADA, Avachat said, has deposited Rs 283 crore with the State as the SSPPL owes it Rs 17 crore from a June 1998 loan of Rs 30 crore.

Avachat has urged boards to restrict administrative costs to 10 per cent in all its schemes. At present, these costs escalate to as much as 25 per cent. MHADA has undertaken construction of 11,000 houses for the middle income group in areasoutside Mumbai, while in Mumbai, the only work in progress is the construction of 10,000 transit tenements.

Nearly Rs 314.5 crore of MHADA's money is blocked as the board has a stock of 2,914 unsold tenements, 1,822 vacant plots and 241 unsold shops in the State. Its inability to sell 1,614 higher income group flats at Oshiwara and Powai in Mumbai has also blocked another Rs 301 crore.

MHADA, however, expects to earn a revenue of Rs 119.48 crore in 1999-2000 as against an expenditure of Rs 99 crore. It also expects capital accumulation of Rs 892.32 crore for the forthcoming year and a capital expenditure of Rs 487.41 crore.

The MHADA president also highlighted the shortage of land after handing over 11.5 hectare to SSPPL, and said in order to go ahead with housing schemes, MHADA is requesting the State Government to hand over its land including salt pans. MHADA has made provision of Rs 152.4 crore in the present budget towards acquiring land.

Avachat said MHADA had decided to crack down onindisciplined and corrupt employees considered to be behind its poor public image. Subodh Kumar said he would be ruthless in dealing with erring officials and go so far as to hand them a month's notice to quit if they were found guilty of corruption and negligence.

MHADA will also expedite the implementation of a one-window system for clearance of conveyance applications. Although the idea was mooted last year, it failed to take off due to poor staff coordination.

Avachat told The Indian Express later that MHADA was serious in handing over its buildings to cooperative housing societies and expects about 90 per cent conveyance to take place this year.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


Top


Ashwa Energy Capsules

DRDO Recruitment

Astrosurf
 

Click here for a printer-friendly page Printer-friendly page

Send gifts throughout India



EXPRESSindia.com
News   Business    Sports   Entertainment
The Indian Express | The Financial Express | Latest News | Screen | Express Computers
Travel | MatrimonialsCareersLifestyle | Astrology
E-Cards | Graffiti | Environment | Jewellery | Info-tech | Power