BHUBANESWAR: Affordable housing is the major highlight of the three-day property expo which was inaugurated by Housing and Urban Development Minister Debi Prasad Mishra at Exhibition Ground here on Friday.
The three-day expo, organised by Odisha chapter of Confederation of Real Estate Developers Association of India (CREDAI), aims at providing housing options to the low-end consumers.
Sixty builders from across the State have opened stalls to showcase their housing projects starting from `5 lakh to `60 lakh. The main focus, though, is to cater to consumers with a budget ranging between `5 lakh and `15 lakh.
Mishra said people with low budget will have a lot many housing options to choose from. This is the first time that EWS, LIG, MIG and LMIG housing projects are showcased in a property expo.
CREDAI Odisha president BK Das said more than 7,000 housing units, both under construction and completed, are available. Fifteen banks have also set up stalls to provide financial assistance to the consumers.
As per the recent Affordable Urban Housing Scheme launched by the State Government, the private real estate developers will be given relaxation in the Floor Area Ratio (FAR) in lieu of the EWS housing units that they will construct. CREDAI officials said most of the real estate developers are now interested in developing affordable housing projects to get benefits of State Government’s scheme.
In addition to the property stalls, product stalls selling home appliances to artefacts have also been set up.
A training programme for masons is organised by CREDAI. Vice-Chairman of Bhubaneswar Development Development Authority Vishal Dev was present at the inaugural function.