Developers that are unable to finish residential projects due to paucity of funds or any other reason shall now find a respite.

As per an article published in DNA, a news daily, the Maharashtra government plans to take over uncompleted residential projects from developers to finish construction and allot them under Affordable Housing which sets to achieve a target of 15 lac houses by 2022.

The DNA report quotes the Maharashtra Housing Department saying that it plans to give these projects a renewed Floor Space Index of 4. The government will retain 2/3^rd of these houses while the remaining 1/3^rd will be given to the builder for selling in open market.

A source is further reported saying that the government shall not make any payment to the developers of these projects.

Source: DNA, 11^th May 2018