Rajasthan first state to firm up pvt investments in affordable housing

Wed, 2015-10-14 10:22 -- SCC India Staff


The Rajasthan goverment has set a example by taking a lead in promoting affordable housing by signing four Memoranda of Understandings (MoUs) with private players. 

According to a release isssued by the Urban Development ministry, the four players have commited to invest up to Rs 5,400 crore under the 'Housing for All' or the affordable housing scheme. 

These four MoUs are part of 27 MoUs signed entailing an investment of Rs 12,478 crore in housing and urban development projects in Jaipur. These include 14 MoUs for promoting housing projects with an investment of Rs 9,273 crore  - in mixed category.

Tata Housing Development Company has committed to invest Rs 2,000 crore in affordable and mixed use township over an area of 10.12 hectares. Mahima Real Estate Private has signed MoU with the state government to invest Rs 1,700cr in affordable housing and group housing followed by National Building Construction Corporation (NBCC) and Wish Empire who have undertaken to invest Rs 500 crore each in Rajasthan. 

The announcements where made in the presence of Minister of Urban Development Shri M Venkaiah Naidu and Chief Minister Smt Vasundhara Raje Scindia. 

The 14 housing related investment projects are expected to provide employment to 26,650 persons. Total employment from the 27 MoUs signed is expected to be 38,950, the release stated. 

Other MoUs related to Medical and Health Care, Education, Industry and Tourism in different parts of Rajasthan. 

Speaking on the occasion, Shri M Venkaiah Naidu complimented Rajasthan for being in the forefront of implementing new urban sector initiatives.

The minister said that the MoUs mobilizing investments in affordable housing will act as light house to others. Shri Naidu further said that Rajasthan was the first state to submit 'AMRUT' action plan to the Ministry of Urban Development, first to identify 40 cities for taking up housing projects under 'Housing for All' Mission in urban areas and the first state to ensure complete convergence in implementing Smart City Mission, Atal Mission (AMRUT), Heritage Mission and Housing Mission. 

Shri Naidu noted that there is a new churning and new beginning by urban local bodies and the States since the launch of Smart City Mission and a new enthusiasm to address the challenges of urbanization in the country.

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