In a big boost to Prime Minister Narendra Modi’s ‘Housing for All’ by 2022, state-run NBCC will soon develop affordable housing projects on the lands of sick public sector undertakings.
In a big boost to Prime Minister Narendra Modi’s ‘Housing for All’ by 2022, state-run NBCC will soon develop affordable housing projects on the lands of sick public sector undertakings. “We have identified one-two land parcels. Some of the projects are under consideration and detailed project reports (DPR) are being prepared,” the company’s chairman Anoop Kumar Mittal said, adding that some land may also be sold to a private player which will build low-cost houses.
Though Mittal did not give any detail of the revenue expected from this project, he said that it would be high and more than expectations. “All these land parcels are very large areas. Along with affordable housing, some other housing infrastructure will also be developed,” he said.
Currently, NBCC is the land management agency of 10 central public sector enterprises (CPSEs), which include Hindustan Cables, HMT Bearings, HMT Watches, Instrumentation, Tungabhadra Steel Products, Hindustan Organic Chemicals, Indian Drugs & Pharmaceuticals, Andaman & Nicobar Islands Forest & Plantation Development Corp, Hindustan Vegetables Oils Corp and Bharat Wagon & Engineering Co. The total land area of the 10 CPSEs is estimated to be around 1,000 acres.
“If we find the model to be feasible and saleable then we will take up more projects,” Mittal added.
The unavailability of land had become a stumbling block for the housing mission. In June, the Union Cabinet approved revised guidelines for the time-bound closure of sick and loss-making CPSEs and disposal of their movable and immovable assets. According to the government statement, the new norms accord first priority for utilisation of available land parcels of CPSEs under closure for affordable housing projects, which will also give a fillip to the housing initiatives for the centre.
PMAY(U) is a flagship programme of the government that was launched on June 25, 2015 to ensure that every urban poor identified by the states has a pucca house by 2022. As per the demand assessment by the states, total demand is estimated at 100-120 lakh houses and the overall funding envisaged from the central government works out to nearly Rs 1,70,000 crore. So far, the government has approved construction of a total of 53.7 lakh houses.