'BDA to Meet Housing Needs of City'
Government will have to construct at least eight lakh housing units to ensure housing for all
Nov 15, 2014
Source : The New Indian Express


BHUBANESWAR: Vice Chairman of Bhubaneswar Development Authority Krishan Kumar on Friday said, the State Capital Region Development Fund (SCRDF), a corpus set up by the development body, has, so far, managed to mobilise `100 crore.

The fund, announced earlier in August, is aiming to generate `1,000 crore and would be utilised for infrastructure development in the capital region.

Addressing the inaugural function of the Property Expo, organised by Confederation of Real Estate Developers Association's (Credai) Odisha chapter, Kumar said, the BDA is working on a proposal to address the housing requirements of the city.

Joint Secretary of Credai DS Tripathy said, prices of real estate projects are shooting up due to lack of availability of land at reasonable prices. Although  22 per cent of the urban population is in the income bracket of `10,000 and `20,000 per month, majority of the housing projects in the Capital are in the range of `40 lakh and `50 lakh which is completely out of their reach. This can be tackled only through coordination between Government and the private developers.

He said, Government will have to construct at least eight lakh housing units to ensure housing for all but before that, it needs to formulate clear-cut policies on real estate development for urban areas so that planned development can take place.

Bhubaneswar Mayor Ananta Narayan Jena said streamlining of approval process for buildings was necessary to prevent problems in peripheral development of a property.

Earlier, Minister for Housing and Urban Development (HUD) Pushpendra Singhdeo unveiled the four-day expo in which 35 real estate developers who are participating will showcase more than 100 housing projects. Each housing unit are priced at `15 lakh and above.

As many as 12 banks have put up their stalls to provide loan assistance for customers interested to buy property at the expo. In addition, 13 stalls displaying different housing and lifestyle products have also been put up.


Latest Realty News

Lack of clarity on land pooling angers farmers
Nov 15, 2014
GUNTUR: Farmers in the proposed capital region are growing restive with the cabinet sub-committee on land pooling failing to come out with a concrete assurance on compensation package
Plea to Khattar on 'integrated townships'
Nov 15, 2014
GURGAON: A city-based NGO, Aadhikar, and a group of residents have written to CM M L Khattar and MP Rao Inderjit Singh urging them to solve the problem of "integrated townships"
Hike in guidance value may hit flat buyers
Nov 15, 2014
Bengaluru: The recent revision of guidance values will increase apartment prices and add to the burden of people who are yet to register properties bought years ago
CBI arrests builder in Artha Tatwa fraud
Nov 15, 2014
BHUBANESWAR: The CBI arrested a builder on charges of embezzling Artha Tatwa (AT) Group funds
Taskforce on land submits report
Nov 15, 2014
BHUBANESWAR: Taskforce on Land headed by Revenue secretary Taradatt submitted its report to the Odisha government
Delhi government makes registration of all leasehold property sales compulsory
Nov 15, 2014
NEW DELHI: Delhi government took steps to not only put an end to the confusion among property buyers and sellers but also to contain the builder mafia
DLF to launch REITs next fiscal, plans Rs 3600cr CMBS
Nov 15, 2014
New Delhi: DLF, the country’s largest real estate company, plans to launch Real Estate Investment Trusts (Reits) in the next financial year
Alembic launches realty project in Bengaluru
Nov 15, 2014
Ahmedabad: Alchemy Real Estate, real estate arm of the 107-year-old Vadodara-based Alembic Group of companies is all set to enter the Bengaluru real estate market with the launch of luxury apartment project ‘Urban Forest’
DB Realty inks pact with ABIL for Bandra East MIG project
Nov 15, 2014
Mumbai: Real estate player DB Realty Limited signed a joint development agreement with Pune based-Avinash Bhosale Group (ABIL) for Bandra East MIG project
Building dept circulars must go online: HC
Nov 14, 2014
MUMBAI: The Bombay high court directed the BMC to be entirely transparent and place online all circulars issued by its building proposal department

Latest Realty News Of State

Realty Talk's