Rajasthan firms up private investment in affordable housing

Low-cost Housing1Rajasthan Government has taken lead in promoting affordable housing by signing four Memoranda of Understanding, firming up an investment of Rs. 5,400 cr.

“The MoUs were a part of 27 MoUs signed entailing an investment of Rs. 12,478 cr in housing and urban development projects in Jaipur in the presence of Minister of Urban Development Venkaiah Naidu and Chief Minister Vasundhara Raje Scindhia,” an official release said.

These include 14 MoUs for promoting housing projects with an investment of Rs. 9,273 cr.

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

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

Venkaiah Naidu complimented Rajasthan for being in the forefront of implementing new urban sector initiatives. “The MoUs mobilising investments in affordable housing will act as light house to others,” the minister said.

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.

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