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Slum Development / Housing

With major projects on hand, Vadodara civic body looks to HUDCO for funds

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Indian Express       10.12.2010

With major projects on hand, Vadodara civic body looks to HUDCO for funds

hitarthpandya Tags : Vadodara Municipal Corporation, Housing and Urban Development Corporation Limited, HUDCO Posted: Fri Dec 10 2010, 05:02 hrs

Vadodara:  Rail overbridges, sprawling gardens along the banks of the Vishwamitri, a ring road and a network of stormwater channels ¿ these mammoth projects had given the politicians and the officials at the Vadodara Municipal Corporation a lot to cheer about as far the city’s development was concerned.

But with funds drying up and few avenues left to generate them, VMC has, as a proactive step, decided to take a loan of Rs 200 crore from the Housing and Urban Development Corporation Limited (HUDCO).

Senior officials at the VMC Accounts Department told The Indian Express that the financial institution has already approved the loan, but they have adopted a wait and watch policy before taking a final decision. But in all possibilities the loan will be taken and the same will be reflected in the forthcoming budget. The annual budget for 2011-12 will be announced sometime in January 2011.

“It is true that we have initiated the process to take the loan. We had actually explored various financial institutions including private and public sector banks, but their rates were exorbitant. We finally approached HUDCO and they have approved the loan of Rs 200 crore. We have been mentioning in our last two annual budgets the possibilities of taking a loan, but this time there are strong chances of taking it,” VMC Chief Accountant Ashok Tamboli said.

He added that the loan has been taken to avoid any problems with the execution of the projects which are in progress. But sources in the department said that residents might have to bear additional taxes. Tamboli added: “We might need approximately more than Rs 100 crore and even if we impose additional taxes, it will not come to even Rs 20 crore. That is why we decided to take the loan from HUDCO. It has not been decided whether additional taxes will be levied on the residents.”

Last Updated on Friday, 10 December 2010 11:42
 

List of those eligible for EWS housing released

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The Times of India       09.12.2010

List of those eligible for EWS housing released

 PUNE: The Pimpri Chinchwad Municipal Corporation (PCMC) has released a list of 11,534 people who are eligible for its ambitious housing scheme for people from economically weaker sections (EWS).

As many as 4,352 applicants were found to be ineligible in the scrutiny conducted by the slum eradication and rehabilitation department of the PCMC. Aziz Karche, assistant commissioner said, "Citizens have been given 15 days to submit their suggestions and objections about this list. A hearing on these suggestions and objections will be held, after which the final list of eligible applicants will be prepared."

In 2007, the Union government gave primary approval to the PCMC's proposal to implement the EWS housing scheme under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM), estimated to cost Rs 449.70 crore. The PCMC is constructing 13,250 tenements as part of the EWS housing scheme. It had promised to give the flat to the beneficiary at a cost of Rs 1.5 lakh but later had to increase the cost to Rs 3.76 lakh owing to cost escalation.

The first phase of the project is being implemented on a plot of 75 acres in sectors 17 and 19 given by the Pimpri-Chinchwad New Township Development Authority ( PCNTDA), where the PCMC is constructing 6,700 flats in the first phase.

Three years ago the PCMC had invited applications from the public for the scheme and received 17,044 applications. In a related incident, Shiv Sena corporator Seema Savale has written a letter to municipal commissioner Ashish Sharma demanding action against civic officials who printed excess application forms for the EWS housing scheme which remained unsold causing a loss to the PCMC. She pointed out that the PCMC had printed 1.55 lakh forms and brochures for the 13,250 house schemes at a cost of Rs 38 lakh. Only forms worth Rs 5.38 lakh were sold.

"The population of the PCMC was around 15 lakh when the forms were printed. Around 15 to 20 per cent of the population of the city lives in the slums so the PCMC had printed the forms accordingly," said Karche.

Bhagwan Walhekar, president, Pimpri-Chinchwad unit of Shiv Sena has sent a letter to municipal commissioner demanding that applicants who have been found ineligible should be given another opportunity to submit the necessary documents.

 

Mhada homes on instalments

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Hindustan Times  08.12.2010

Mhada homes on instalments

If you want to buy a house in Mumbai but are struggling because of sky-high realty prices, there is still hope. The Maharashtra Housing and Area Development Authority (Mhada) has announced a new scheme for 8,000 to 10,000 low-cost houses coming up in Mumbai in two years. For the first time, Mhada, like private builders, will throw open under-construction projects in which buyers can pay for homes in four easy instalments as construction progresses.

Buyers will have to pay 10% of the total amount on booking, 40% after the cement concrete construction is ready and 25% after the project is complete. The last installment will be paid when the buyer takes possession of the flat.

“This will ease the burden on buyers and also assure them homes,” said Amarjit Singh Manhas, chairman, Mhada (Mumbai board). The lottery to select buyers will be held in June while the application forms will be available from January.

Mhada has set a deadline of March 2013 to hand over the flats to buyers.

Mhada is constructing 5,633 tenements and its repair board will hand over 3,000 flats from its kitty for sale in the open market.

The flats will be in places such as Sion, Andheri, Goregaon, Borivli and Chembur.

“It is great move because a huge stock of low-cost houses will come into the market. Mhada is the only hope because most people cannot afford the exorbitant rates private builders quote,” said noted lawyer Vinod Sampat, who handles cases related to the realty industry.

Mhada charges Rs 6,500 a square foot for high-end apartment in places such as Andheri and Goregaon, where the prevailing market rates start at Rs 10,000 a square foot.

The state housing body charges for the carpet area of a flat unlike private builders, who charge for the super-built up area that includes staircases, lobbies, elevators and playgrounds.

The new Mhada houses will be larger than the existing ones. Houses for the economically weaker section will have a minimum area of 225 square feet as against the current 180 square feet.

High-end apartments, that currently measure 500 square feet, will measure at least 800 square feet.

Last Updated on Wednesday, 08 December 2010 11:45
 


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