BHUBANESWAR: The Confederation of Real Estate Developers’ Association of India (CREDAI), Odisha chapter has proposed to build about 5000 affordable housing units in the city.
CREDAI Odisha chapter has submitted the proposal to the State Government for building affordable houses, spread across 25 acres, in different patches of land. CREDAI, Odisha president Binay Das said most of the affordable housing units will come up in the outskirts of the city. But lack of peripheral infrastructure development is still a problem for the developers.
Speaking to media persons recently, CREDAI vice-president Sanjeev Srivastava said overall image of the real estate market was set for an overhaul with the implementation of the Real Estate (Regulation and Development) Bill 2013, which has now been tabled in the Rajya Sabha. CREDAI will organise a two-day national conclave in New Delhi from December 13 to deliberate on the bill and development of the housing sector. The meet has been based on the theme ‘Housing: The game changer, leading to double digit growth’.
Srivastava said the bill will bring transparency in real estate. “Every developer will have to declare their projects details like environment clearance, land title and other details in Government of India’s website. Any real estate developer who plans to build more than 12 apartments will have to abide by the bill,” Srivastava said.
CREDAI joint secretary DS Tripathy said there was a need for Government policies to help the growth of the real estate industry. About 70 per cent of the land inside the city belongs to the Government. Unless the Government formulates policies to provide land at a subsidised rate, developing affordable housing units will be a difficult task, said Tripathy.