Govt to build cheap houses
Dec 03, 2013
Source : The Times of India

 

BHUBANESWAR: The state government plans to build 5,300affodable houses at the cost of Rs 5.4 lakh each and make those available to the economically weaker sections (EWS) for Rs 2.69 lakh through three housing projects.

Government sources said subsidies from central and state governments would take care of the price difference. The state government would pay Rs 1.05 lakh for each unit from Odisha Urban Infrastructure Development Fund (OUIDF) and Rs 75,000 grant from the housing and urban development department, while the rest Rs 75,000 would be borne by the Union government under the Rajiv Awas Yojna.

The Bhubaneswar Development Authority (BDA) would build 2,500 EWS units at Shampur here under this plan. The Odisha State Housing Board (OSHB) would undertake two projects, one at Malipada (2,500 units) and another at Bidyadharpur (325 units) in Cuttack district soon. These would be the first such projects after the state government notified affordable housing policy last year.

"The government will facilitate loans for the beneficiaries through various banks. The OSHB would tie up with the nationalized banks for the loans," said director (housing) Devraj Senapati.

Senapati said the size of each dwelling unit would be 25 square metre. The beneficiaries would get 5% subsidy on interest of such loans from the centrally-sponsored Rajiv Rinn Yojna (RRY) for the urban poor.

The government has calculated the total cost of a project with 2,500 units at Rs 131.10 crore. The OUIDF would provide Rs 40 crore loan and Rs 18.75 crore grant, while the Centre would chip in with Rs 18.75 crore and Odisha government Rs 26.25 crore. The OSHB's equity share would be Rs 13.11 crore and it would generate Rs 14.24 crore from the sale proceeds. The board has been asked to prepare the detailed project reports for its two projects by December 31.

Sources said private builders would also offer EWS houses at Rs 2.67 lakh each to the beneficiaries. According to the affordable housing policy, they have to reserve 10% of the built-up area in their projects for the EWS category.

They would cross-subsidize the differential amount from the rest 90% of the constructions for middle and high income groups.

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