The Mumbai Metropolitan Region Development Authority (MMRDA) is gearing up to sale its 2,500 low cost flats in Thane and Vasai-Virar. The state govt has asked the MMRDA to put on sale its flats on a government decided rates of which 50 pc of the flats are built under its rental housing scheme.

The proposal was originally meant for rental purposes for 160 sq ft flats to the people who cannot afford to buy a home or living in slums. The civic body has 5,000 such flats which will put to sale in latter stage.

The existing flats are smaller in size and the other stock of 5,000 flats will be ready by next year for the general public. The size will be doubled for the upcoming flats.

The civic body is planning to create such low cost five lakh flats in the next three years which will give a new angle to the property market in Mumbai.

A notice issued by the state government stated that MMRDA might approve merger of apartments constructed under the rental scheme. The plan will benefit the lower and economically weaker section of the group.

The notification stated the civic body can allocate 50 pc of the created constructions under various plans in Mumbai under the rental scheme for allotment as affordable housing.

The move would benefit former mill employees or the victims who had suffered in building collapse incidents and the needy ones.