 "Raipur development body to build houses only on demand")
In Chhattisgarh, real estate recession is causing urban development authorities to construct houses only on demand from the customers.
Raipur Development Authority (RDA) had planned two mega housing projects for the economically weaker sections of society. Interestingly, the projects could take off only if the agency received demand in proportion that would make the projects viable for it.
“Both the projects would be executed if the RDA received 70% applications,” M D Kawre, Chief Executive Officer (CEO) of RDA, said. In all, 2,720 units would be constructed in Low Income Group (LIG) and Economically Weaker Section (EWS) categories under both the projects. The RDA would start the project only if it received over 1,900 applications.
Raipur Development Authority (RDA) had planned two mega housing projects for the economically weaker sections of society. Interestingly, the projects could take off only if the agency received demand in proportion that would make the projects viable for it.
“Both the projects would be executed if the RDA received 70% applications,” M D Kawre, Chief Executive Officer (CEO) of RDA, said. In all, 2,720 units would be constructed in Low Income Group (LIG) and Economically Weaker Section (EWS) categories under both the projects. The RDA would start the project only if it received over 1,900 applications.
This is for the first time that an state-run agency had announced that it would implement project only after getting required response from the customer. The move is aimed to avoid investing huge money in the projects. The two projects would draw an investment of over Rs 200 crore.
The officials in state’s housing department said government agencies executing housing projects had been asked to ensure that the demand was sufficient enough to take up the projects.
Many projects including the ones completed by private builders could not find buyers despite lucrative schemes like free electricity for life-time and one plot free on one unit purchase.
Another state-run agency, Chhattisgarh Housing Board (CHB), is also mooting plan to take up next housing projects only on the basis of demand.
The officials in state’s housing department said government agencies executing housing projects had been asked to ensure that the demand was sufficient enough to take up the projects.
Many projects including the ones completed by private builders could not find buyers despite lucrative schemes like free electricity for life-time and one plot free on one unit purchase.
Another state-run agency, Chhattisgarh Housing Board (CHB), is also mooting plan to take up next housing projects only on the basis of demand.
