The new policy got approval of the state cabinet chaired by Chief Minister Naveen Patnaik here.
The policy envisages provisions enabling framework for implementation of affordable housing projects, slum rehabilitation and redevelopment projects and to facilitate development of housing schemes in urban areas.
Stating that people belonging to Economically Weaker Sections (EWS) and Low Income Group (LIG) would benefit from the policy, Chief Secretary G C Pati said the policy aimed to work towards strategies to create a steady supply of affordable housing stock to cater to the growing demands.
Replying a question, he said the objective of the policy was to create a framework to address all aspects of housing for the urban poor including creation and development of housing stock, beneficiary identification, allotment process, operation and upkeep of affordable housing projects.
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The policy extends various incentives like fast track approval of projects, exemption of external/periphery development charges, building plan sanction fees and land use change conversion charges, to developers encouraging them to take up EWS and LIG housing, Pati said.
For general housing projects, the policy provides concession of 20 per cent on land premium to the government agencies in lieu of which they would reserve 20 per cent land area in a housing project for EWS and LIG housing, he said.
The policy also provides for setting up of the Odisha Housing Mission, a dedicated mission directorate to implement the policy and oversee its execution across the state.