Credai selects land for low cost housing projects
Such projects are to be developed under the fourth model of the Revised scheme for urban housing
Oct 07, 2013
Source : The Times of India


BHUBANESWAR: The Confederation of Real Estate Developers Associations of India (Credai)- Odisha chapter has identified about 20 acres of land for developing low cost housing projects.

Such projects are to be developed under the fourth model of the Revised scheme for urban housing in Odisha -2013 notified by the state housing and urban development (H&UD) department recently.

In the new scheme, the fourth model ‘Voluntary Social Housing Scheme’ allows the private builders desirous of building units for only economically weaker sections (EWS) and Low Income Group (LIG) categories, beyond the mandatory provision of 10 per cent of built up area to participate under this model.

The developers will get approval, including permission for land usage change and layout plan, within 60 days.

Welcoming the new model introduced in the revised scheme, Binay Krishna Das, President, Credai- Odisha said, “The local developers are ready to implement the policy and the fourth model will fulfill the need of the middle class people with low income who can’t afford to purchase their houses in high end residential projects.”

Umesh Patnaik, general secretary, Credai-Odisha said, “Our members are ready with a land bank of around 20 acres to develop the affordable housing projects on this model in Bhubaneswar with an overall price cap of Rs 15 lakh for each unit. They are waiting for necessary amendments in the regulations of the approving authority.”

The revised scheme which superseded the scheme announced in 2012 has mandated to reserve at least 10 per cent of the total residential built up area for the (EWS) category in the apartments and group housing projects developed by the private players. The department has scaled down the mandatory reservation for EWS to 10 per cent from 15 per cent proposed earlier.

The reservation has been made compulsory by the state H&UD department for all such residential projects developed by private players over a plot size exceeding 2000 sq metres.


Latest Realty News

Real estate investment in Odisha dismal
Oct 04, 2013
BHUBANESWAR: Odisha may be a favoured destination in attracting investments in the metal and power sectors, but when it comes to real estate, the state portrays a gloomy picture.
Revised housing scheme fails to cheer builders
Sep 28, 2013
BHUBANESWAR: The revised urban housing scheme in state, notified on Thursday, has evoked sharp reactions from real estate developers. They said the mandatory provisions in the scheme are impractical and won't help create affordable housing stock.
BDA seeks support from private players for city parks
Sep 27, 2013
BHUBANESWAR: While several beautification projects, commissioned by private companies are crying for maintenance, the state government has roped in several corporate houses and banks appealing them to adopt the city parks for their upkeep.
New urban housing scheme notified
Sep 27, 2013
BHUBANESWAR: The state government on Thursday notified revised scheme for urban housing introducing a fourth model of creating cheap houses in addition to changing certain stipulations in the existing models.
Squatters on agricultural lands in for trouble
Sep 25, 2013
BHUBANESWAR: In a blow to land sharks, the state government has decided to turn the heat on people, who purchased large patches of agricultural lands for commercial purpose and kept them vacant for years, eyeing hefty returns from sale of the lands in future.
Earlier released builder again held
Sep 24, 2013
BHUBANESWAR: The Saheed Nagar police on Monday arrested Simax Builder Private Limited managing director Nirmal Kumar Behera (42) on the charge of duping a customer of `5 lakh in fraudulent land deals.
CREDAI to set up skill training centre for construction workers
Sep 18, 2013
BHUBANESWAR: The Odisha chapter of Confederation of Real Estate Developers Association of India (CREDAI) has decided to set up a skill training centre in the city to address the shortage of the skilled manpower in building construction.
State to witness 6000 affordable houses soon
Sep 17, 2013
BHUBANESWAR: To meet the ever increasing demand of affordable houses, Credai­ Orissa, a body of real estate developers, is considering con­struction 0f 5,000-6,000 houses for lower and middle income groups in the next 2-3 years.
BDA gives a shove to lake project in capital
Sep 17, 2013
BHUBANESWAR: The much-awaited lake project near Satya Nagar crematorium here has been put on fast track. The Bhubaneswar Development Authority (BDA) recently completed a survey of slum dwellers, residing at the proposed site. "It is an unauthorized slum. The slum dwellers will be rehabilitated in three transit accommodation centres in the city," BDA vice-chairman Vishal Dev said.
Houses unsold, realty growth on hold
Sep 14, 2013
BHUBANESWAR: Realtors in the city have decided to put new projects on hold with stocks of unsold houses piling up all the time.

Latest Realty News Of State

Realty Talk's