Affordable Housing Welfare Organisation Of India

An organization promoted by the parent body Maharashtra Societies’ Welfare Association (MSWA) to create mass movement in the housing sector on Cooperative basis.  Its main objective is to facilitate houses to the members on SELF Financing and on No Profit and no Loss basis.

Inspiration & Guidance By Justice Kochar Regarding Affordable Housing For All

Extract of Speech by Justice Kochar as the Chief Guest in the Conference organised by MSWA during the Housing Society Expo 2006 held on 10/12/2006 at Hindu Association, Bandra

Present Problems/ Issues In The Housing Sector.

1.    Houses are no more Affordable: The prices for multiple reasons is skyrocketing and  neither the government nor the stakeholders in the industry could do any drastic changes in this area. The houses has become out of reach of common man especially the persons drawing the salary range of Rs.10,000 to Rs.25,000/-.  The persons below Rs.10,000/- are marginally taken care by regularisng the slums by the government and above Rs.25,000/- income person can manage to get the loan of 70% to 80% and purchase a house at distance places or outskirt of Mumbai or Big Cities.

The concept of a Cooperative Housing Society emerged during 1960s when a group of people from an institution like various Banks, LIC, etc. came together for purchase of a plot of Land and for construction of a building thereon by contributing 20% of the cost of the entire project and availing the remaining 80% as loan from their Employers. . For this purpose, one person among the group of people who took the initiative was chosen as the Chief Promoter.