With a view to offer decent living conditions to the slum dwellers in the city at reasonable rates, Bhubaneswar Development Authority (BDA) plans to develop housing projects for them.
BDA will develop housing projects for these people belonging to the economically weaker sections in five to six locations in and around the city. BDA would offer single bedroom flats, with a built-up area ranging from 350-500 sq ft to these people at a cost of Rs 2.5-3 lakh.
“As a part of our endeavour to provide basic services for the urban poor, we are planning housing projects for the economically weaker sections. The first such project consisting of 192 units is being developed near the Chandrasekharpur area of the city and we have already invited tenders for the same”, DK Singh, vice-chairman, BDA told Business Standard.
The other locations for the housing projects are yet to be finalized. The state government would provide land for these projects at subsidized rates.
The government is also going to introduce a Slum Improvement Programme for the benefit of the slum dwellers, informed Singh.
Meanwhile, BDA is also going ahead with its plan to develop integrated realty projects on the PPP (public private partnership) mode.
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The authority has identified 5-6 locations in and around the city where these PPP projects would be developed on a land area ranging from 10-25 acres.
The first integrated real estate project on the PPP mode would be developed on a 25-acre plot in the Chandrasekharpur area of the city. Global consulting firm, Ernst & Young which was engaged as the consultant for this project by BDA has already submitted its report.
“We have also identified 10 acres of land at Paikraipur for the integrated real estate project. The transaction advisor for this project is being finalised”, said Singh.
According to BDA’s plan, in the projects to be taken up on the PPP mode, 75 per cent of the area would be earmarked for residential apartments while the remaining 25 per cent would be devoted to commercial real estate like shopping malls and office space.
Out of the 75 per cent area meant for the residential apartments, 25 per cent would be set aside for housing projects to be developed exclusively for the low-income groups.
BDA would enter into an agreement with the developers for these PPP projects according to which the private player has to develop the entire project within five years, said Singh.