The main objective of the proposed joint venture is to take the advantage of the technological knowhow and expertise of the private sector partner to provide quality houses at an affordable price.
Signing the MoU, the chief minister of Andhra Pradesh, N Chandrababu Naidu said that the scheme is evolved in accordance to the proposals made by the Director General, National Academy of Construction (NAC). The state government had constituted a high power committee which shortlisted four companies, namely IJM (India) Infrastructure Limited, Gujarat Ambuja Cements Ltd, Unitech Limited and Sahara India Commercial Corporation for this project. IJM (India) was selected for the proposed township, to be constructed on 25 acres at Kukatpally.
The land will be provided by APHB as its portion of share in the joint sector and IJM (India) will bring in technical knowhow, expertise, finances, planning and also market the housing units.
IJM, the largest construction company in Malaysia, was the first to complete a section of Mumbai-Pune expressway, Chennai by-pass and is currently working on five highway projects in Andhra Pradesh.
Mr Naidu said it will be close to the Hitech City railway station and will be developed on the lines of Malaysian townships with comprehensive facilities.
The housing provided will cater to all groups of purchasers ranging from low income group to high income group.