Buoyed by the spurt in demand for mass housing projects in the country, Bhubaneswar Development Authority (BDA) plans to develop housing projects for the low and middle income groups in 4-5 locations in and around the city.
BDA has lined up an investment of Rs 80-100 crore on developing 1,000 dwelling units which would be a mix of 1-BHK (bedroom hall kitchen), 2-BHK and 3-BHK flats. These housing projects are set to be launched within 3-4 months and are expected to be commissioned by the end of 2011.
“We have already invited the expression of interest from architects and other firms for providing consultancy services for the housing projects meant for the low and middle income groups. These projects are expected to be launched within 3-4 months”, DK Singh, vice-chairman, BDA told Business Standard. The total built-up area of the flats would range from 700-1,700 sq ft and the price of these flats would vary from Rs 7 lakh to Rs 25 lakh depending on the built-up area.
While 1-BHK flat would comprise a built-up area of 700 sq ft and would be priced at Rs 7-8 lakh, a 2-BHK flat with a built-up area of 1,000-1,200 sq ft would be available in the range of Rs 12-15 lakh. Similarly, a 3-BHK flat with a built-up area of 1,500-1,700 sq ft would be priced at Rs 20-25 lakh. These housing projects would be developed on an area of three acres in 4-5 locations in and around the city and the projects would be in the form of apartments consisting of 7-8 storeys, said Singh.
The tentative locations identified for the housing projects include Bargarh Brit Colony, Chandrasekharpur, Kalinga Nagar and Subhudipur. Apart from the mass housing projects, plans are also afoot to develop residential and commercial real estate projects on the public-private partnership (PPP) mode. “While our prime focus would be on mass housing projects, BDA is also thinking of developing projects on the PPP mode involving the participation of the private developers.
