VUDA promises to complete mega housing scheme
Dec 20, 2013
Source : The Hindu

VISAKHAPATNAM: The Visakhapatnam Urban Development Authority (VUDA) will complete the mega housing scheme - Haritha - at Endada in the city and the allottees need not entertain any doubts on that count, according to Vice-Chairman N. Yuvaraj.

He told reporters here on Wednesday evening that it was a fact that the allottees had undergone hardship due to the delay in the execution of the project, but VUDA was doing its best to mitigate it and complete the project as soon as possible. The project was taken up in 2006 to develop a Singapore-type housing project at Endada and it was awarded to Singapore company, Jurong. But subsequently there were differences between VUDA and Jurong and the contract was terminated.

The work on the project got stalled and VUDA got it resumed earlier this year with great difficulty.

He said the project would be completed in accordance with the original stipulations, but there would be a slight cost escalation and allottees would have to bear it. “We have done our best to reduce the burden for allottees. The new price arrived per square feet is Rs 2,170 for all the units in Haritha project. The original price was Rs 1,719 per sq ft and the difference amount will have to be paid by the allottees, after the interest paid on the amount paid so far is deducted.

It will greatly reduce the burden on all classes of allottees. The VUDA board has taken a decision to the effect and we are communicating it to the allottees,” he said.

He said that of the 710 allottees, 42 had taken their monies back.

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