Huda to revive economy housing schemes

Md A Basith / TNN / Mar 12, 2006, 02:23 IST

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Hyderabad Urban Development Authority proposes to set up five economy class townships on the outskirts of the city.

HYDERABAD: In a bid to deflect criticism that the zooming real estate prices have made Hyderabad a paradise for only the haves, the Hyderabad Urban Development Authority (Huda) proposes to set up five economy class townships on the outskirts of the city.
The plan as per a directive of the powers that be will effectively mean that Huda will revive its middle income group (MIG) and lower income group (LIG) housing scheme after a gap of 22 years.
The townships of Vanasthalipuram and Ramchandrapuram were some of the most successful townships of Huda that came up in the 80s.
The proposed townships will have LIG and MIG group housing schemes in the form of flats. The townships will also have a few independent houses.

The price of these housing units will be decided based on the location of the townships. Under the scheme a hire purchase facility will be available for buyers and Huda will start work with a loan from the Housing Urban Development Corporation (Hudco).
"Hudco has asked Huda to identify land and send the estimates for sanctioning the loan," said a Huda officer. The other sources of finance for the housing scheme would be private companies.

"Huda may go for joint ventures with the help of private companies. We provide the land and other partners will have to bear construction expenses," authorities said.
The houses are likely to be sold out within no time as there is a tremendous demand for economy class houses in the city. Huda plans to construct at least 20,000 houses of which 5,000 houses will be completed in the first phase.
Huda will shift the cost burden of the LIG category on the MIG category but the cost burden would be compensated in the form of better amenities, the authorities said.
Huda has requested the government to handover vacant land on the outskirts for the proposed housing scheme. The project will be on a no profit-no loss basis and the mode of sale would be allotments based on income certificates and no-house certificates of the applicants.
Huda will construct independent houses in places where adequate land is available but in most areas only apartments would be constructed.
The urban body has identified land at Shamshabad, Sahebnagar, Rampally, Tellapur and Moosapet. The schemes for land and housing will be taken up simultaneously.
Analysts however seem to be sceptical. They find the idea good, but feel that politicians and power brokers would influence the allotment of flats which should be done in the form of draw of lots.

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