« | Home | »

Flats to Replace Slums in Haryana

Comments Off on Flats to Replace Slums in Haryana   |   May 28, 2007    11:43am   |Contributed by Indian Realty News

The Haryana Development Authority Area (HUDA) proposes to raise multi storied apartments to relocate slum communities, and use the land for value added developments. The project will be taken up in two phases. Of this, the construction of 2,040 flats will fall under the first phase with an investment of Rs 51.56 crore. The flats will come up in Sector-56, as a part of the housing scheme.

The new residential colonies would be developed at Dabua Colony and Bapu Nagar on Municipal Corporation of Faridabad (MCF) plots. The development work will come under the Jawaharlal Nehru Urban Renewal Mission (JNURM).

The drive to remove slum area will not only help the concerned authorities to get the vacated land but will also render cleaner look to the city, says HUDA and has already viewed estimates of the water supply, storm water drains, roads and electrification.

Two rooms set will be built in four storied buildings in Sector 56 in the first phase which is expected to be over in next six months. The Centre has also come forward to extend financial help for the project.

Flats will be allotted at an economical rate with the option of easy payments, adds Pankaj Kumar, superintendent engineer of HUDA.

HUDA has already invited tenders from contractors. According to the terms and conditions, the annual turnover of the company should not be less than Rs 25 crore in the past five years. Also, the company should be financially sound. The cash credit limit of the company to be furnished with the application should not be less than Rs 5 crore.

News Published Under:   Real Estate India | Comments Off on Flats to Replace Slums in Haryana