HYDERABAD: With prices of flats skyrocketing, the state govt has decided to take up projects to provide affordable housing for lower and middle income groups. As part of the plan, the govt has made the Telangana Housing Board (THB) as the nodal agency for implementing the ‘affordable housing policy’.
The policy is expected to be ready in the next two to three months, sources said.
“Costs of flats anywhere around Hyderabad are about Rs 5,000 per sq ft to Rs 10,000 per sq ft. The govt wants to make housing available below Rs 30 lakh,” a senior THB official told TOI.
To begin with, the govt wants to take up projects on Board’s 700 acres and later on another 900 acres belonging to Deccan Infrastructure and Land Holdings Limited (DIHL) – all along the Outer Ring Road (ORR).
The THB recently called for an expression of interest (EOI) from consultants to prepare a policy on how to proceed with the housing projects.
The last project taken up by the housing board was at Raviryal in 2011-2012 in united AP. Later, the THB focussed only on joint venture projects, allowing private firms to develop the housing project on its land on a revenue-sharing basis. However, the projects did not yield any revenue.
“In future, the THB would acquire land between ORR and the proposed Regional Ring Road (RRR) as the city is expanding,” the THB official said.
While the THB would focus on middle income groups, the housing corporation will continue to take up projects for lower income groups and the poor.
Telangana housing board plans affordable housing policy to address skyrocketing costs
