CHENNAI: The Mylapore Institute of Policy Research (MIPR) has proposed a scheme for building affordable housing units for slum dwellers within the city limits.
“The heart and soul of a thriving city are its drivers, cleaners, plumbers, gardeners.. The primary need of this group is affordable housing within city limits,” MIPR President, Shiv Kumar said in a press release here.
MIPR is an urban policy think tank launched with the initial support of India Cements Ltd, Vice Chairman and Managing Director, N Srinivasan, who is the Chairman of the Governing Council of MIPR.
MIPR is proposing a solution by developing government lands for affordable ownership and also for rentals.
According to a report of the institute, Chennai has over three lakh households spread across 1,131 slums with majority living in poor houses.
“Chennai has over one million slum dwellers spread across over 1,000 slums, representing the bulk of the economically weaker section of the city..,” the report said.
MIPR’s proposal is to develop slums with a minimum Floor Space Index (FSI) concession of 3.0 with 60 per cent of the built up area to be used and remaining 40 per cent be offered for sale at discounted prices.
The project cost of constructing 1,000 flats of 400 square foot each under a FSI of 3.0, including registration is expected at Rs 95.89 crore, the report said.
“The amounts that need external funding after the Tamil Nadu government’s contribution for registration costs and sales of 400 flats is Rs 55.3 crore.. It is proposed that the CSR route is accessed to meet the external funding,” it said.
MIPR believes the proposal would generate considerable CSR contribution given the critical need for the affordable housing segment.
The think tank was ready to engage with the state government and the Ministry of Housing and Urban Affairs in making the vision a reality, it added.