MHADA to Earn ₹1.17 Crore Monthly by Leasing 1,150 Shirdhon Homes to CISF

The Maharashtra Housing and Area Development Authority plans to lease 1,150 unsold homes in Shirdhon to the Central Industrial Security Force (CISF), potentially generating ₹1.17 crore in monthly rental income and ₹2.34 crore in security deposits.

MHADA Plans to Lease Unsold Homes in Shirdhon to CISF

The Maharashtra Housing and Area Development Authority (MHADA) is moving forward with a plan to lease 1,150 unsold homes from its Konkan Board housing project in Shirdhon, located in Kalyan taluka, to CISF personnel. The proposed arrangement is expected to provide a steady source of income for the housing authority while putting vacant homes to productive use.

Under the plan, MHADA could collect ₹1.17 crore in rent every month, along with a security deposit of ₹2.34 crore. IAS Sanjeev Jaiswal, Vice President and CEO of MHADA, is associated with the authority's efforts to improve housing management and generate revenue from available housing stock.

More Than 18,000 Homes Planned in Shirdhon

MHADA's large housing project in Shirdhon includes more than 18,000 homes. The authority offered 1,905 homes for the low-income group through a lottery in 2018, followed by approximately 5,000 homes in 2025.

However, some homes designed for very low-income and low-income households remained unsold. MHADA now plans to lease 1,150 of these units to CISF personnel in a single arrangement, helping bring vacant properties into use.

The homes measure approximately 300 to 400 square feet, making them suitable for personnel seeking compact residential accommodation.

Monthly Rent of ₹8,000 to ₹13,000 Per Home

The proposed rental rates will depend on the size and category of each home. A 300-square-foot home for the very low-income group will carry a monthly rent of ₹8,000, while a 400-square-foot home for the low-income group will be rented for ₹13,000 per month.

MHADA will also collect a security deposit equal to two months' rent for each home.

Based on the proposed arrangement, the authority expects to receive ₹1.17 crore in monthly rent and ₹2.34 crore as a deposit.

MHADA and CISF Await Final Agreement Approval

MHADA has shared a draft agreement with CISF for the proposed lease. CISF has forwarded the document to its headquarters for approval, and the arrangement will move ahead once the required clearances are received.

The final agreement will be signed after the required deposit and rental payments are transferred to MHADA. This means the proposal has progressed to the approval stage, but the final lease and payments remain subject to completion of the necessary formalities.

MHADA to Cover Maintenance and Other Expenses

Although the lease is expected to generate significant revenue, MHADA will also have responsibilities under the proposed arrangement. The authority will need to cover maintenance costs and other related expenses for the leased homes.

MHADA will also be responsible for paying water bills and property taxes associated with the properties. These expenses will need to be considered when calculating the net financial benefit of the agreement.

CISF Presence Could Improve Security in the Housing Colony

The proposed arrangement may also benefit the wider Shirdhon housing community. The presence of CISF personnel and their families could help create a greater sense of security among residents.

MHADA is also hopeful that increased occupancy and improved residential activity will make the area more attractive to future homebuyers. Leasing unsold homes to a government security force could therefore help the authority address vacant housing inventory while supporting the development of the surrounding community.

Key Details of the MHADA-CISF Housing Plan

• Total homes proposed for lease: 1,150
• Location: Shirdhon, Kalyan taluka
• Home sizes: Approximately 300 to 400 square feet
• Monthly rent for 300-square-foot homes: ₹8,000
• Monthly rent for 400-square-foot homes: ₹13,000
• Expected total monthly rental income: ₹1.17 crore
• Expected security deposit: ₹2.34 crore
• Agreement status: Awaiting the necessary approval and completion of payment formalities

The proposed MHADA-CISF arrangement could turn vacant homes into a regular source of revenue while providing accommodation for CISF personnel. Once the agreement receives final approval and the required payments are completed, the project could support MHADA's housing management and long-term financial objectives.