Infrastructure company Bengal Aerotropolis Projects (BAPL) today said it will develop an affordable housing project in Durgapur in West Bengal, marking its foray into the segment.
"Continuing with its vision of developing societal infrastructure for West Bengal, BAPL, which is currently developing country's first aerotropolis in Durgapur has entered into the affordable housing segment," a release said.
The company has tied-up with construction firm Larica Group to develop a 10,000 units budget housing project spread over an area of 10.56 acre within the residential precinct of Sujalaam - The Sky City in Durgapur.
"Targeted at the lower income group (LIG) category, the project will be taken up in phases and about 2,000 units will be developed in Phase-I," the release said.
Prices of the apartments will range between Rs 5 lakh and Rs 12 lakh.
"The announcement assumes paramount importance, considering that the state has an urban housing shortage of around 13 lakh units," the release said.
As per industry estimates, West Bengal is likely to face an acute housing shortage of 2.68 million units by 2030 and about 99 percent of this shortfall will account for the households belonging to the economically weaker section (EWS) LIG categories.
