Housing Board to offer houses in range of Rs 15 30 lakh
Affordable housing units in cities such as Lucknow, Ghaziabad and Meerut
Mar 27, 2015
Source : The Times of India


LUCKNOW: The UP Housing and Development Board (UPHDB) plans to construct over 10,000 affordable housing units in cities such as Lucknow, Ghaziabad and Meerut in the price range of Rs 15-30 lakh. The board's decision comes in the wake of the state government launching the Samajwadi Awas Yojna (SAY), earlier this year.

The project aims to provide affordable housing to the lower- and middle-income groups. UPHDB, the nodal agency for executing the SAY, will begin constructing houses this year and registrations would begin in the first week of April. Lucknow would benefit with more than 9,000 such affordable accommodations.

"The EMI provision for these houses would span over two years," said an official.

Earlier, the scheme was slated to begin in January but due to high land costs, builders showed inability to build houses in the price range of Rs 15-30 lakh. Hence, the board reduced land rates to make the project viable and begin the process by March-end. Additional housing commissioner Rudra Pratap Singh said, "As a norm, a builder has to pay 1.5 times the land rate to develop a group housing project, but in these projects, he just has to pay the land rate".

In Lucknow, UPHDB will be building these units in Avadh Vihar Yojna of Sultanpur Road, Vrindavan Yojna on Rae Bareli Rod and Amrapali Yojna on Hardoi Road. In Mandola Vihar Yojna of Ghaziabad, located at a popular site, the board has decided to come up with an iconic building to promote it as a commercial hub.

Last year, the government had asked UPHDB to extend Rs 200 crore to the Lucknow Metro project. Only around Rs 160 crore have been given by the board till date. The board has now decided to ask for share capital in the Metro project against the cost which it is sharing.

The Housing Board has several land stretches In UP which have been encroached or illegally possessed by others for almost 40 years. It has formed guidelines to set up a committee to initiate negotiations with the encroachers and encourage out of court settlements with the parties within three months. It is estimated that land worth more than Rs 5,000 crore is stuck in illegal possessions.

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