BHUBANESWAR: In a bid to stabilise the housing prices in the Capital, the Bhubaneswar Development Authority (BDA) has decided to construct 7,000 affordable housing units by the end of this year.
Rising housing prices have led to mushrooming of private real estate developers who have raised numerous high priced dwelling units on the outskirts of the city. The decision was taken at a meeting held recently. Out of the total housing units, 5,000 units will be for Lower Income Group (LIG), Economically Weaker Section (EWS) and Middle Income Group (MIG). The rest 2,000 will cater to people in Higher Income Group (HIG) category. After the first year, BDA is planning to add about 5,000 low cost housing units to the existing figure every year.
A BDA official said the purpose of the proposal, like all other affordable housing projects, is to make low cost housing available for the urban poor.
The housing units will comprise G+4 multi-storey buildings. The BDA has targeted to cap the price of the lowest housing unit at `5 lakh. It has also prioritised better implementation of the Odisha Affordable Housing Policy.