Modi virtually lays foundation for six “Light House Projects”
Real Estate

Modi virtually lays foundation for six “Light House Projects”

Prime Minister Narendra Modi laid the foundation of six Light House Projects via videoconference. These projects are a part of the Global Housing Technology Challenge-India (GHTC-India) initiative, in Indore, Rajkot, Chennai, Ranchi, Agartala and Lucknow.

About 1,000 houses in each of these cities will be constructed in a year, using six distinct technologies from a basket of 54 such technologies shortlisted under the GHTC-India, 2019. According to the Prime Minister, India is getting new technologies for providing efficient, affordable and comfortable houses to the poor and middle class.

Call to planners, students

Prime Minister welcomed planners, architects and students from various universities and institutions to visit sites, learn new technologies and mould them for use in accordance with local requirements.

Prefabricated sandwich panel system technology would be used in Indore, while in Rajkot, through tunnelling, monolithic concrete construction system from France was being deployed. Precast concrete technology from the U.S and Finland would be used for the construction of affordable houses in Chennai, and in Ranchi, the project would be implemented through the 3-D technology from Germany, he said.

In Agartala, the steel-frame technology would be used for constructing earthquake resistant houses and pre-constructed wall technology from Canada would be used in Lucknow. Other government schemes would also be linked to these projects to provide facilities such as water supply, electricity and LPG connection to the beneficiaries.

Benefit for middle class
A series of measures were taken to promote the real estate sector. Taxes on affordable and regular houses had been reduced significantly to encourage buyers. Home loan interest rates were also reduced keeping the same in mind.

The Central rental housing complex project was conceived during the Covid-19, with the objective of addressing the issues faced by migrant labourers. The project was being implemented in coordination with industrialists and other investors.

Also Read: Global housing technology challenge for new construction tech

Prime Minister Narendra Modi laid the foundation of six Light House Projects via videoconference. These projects are a part of the Global Housing Technology Challenge-India (GHTC-India) initiative, in Indore, Rajkot, Chennai, Ranchi, Agartala and Lucknow.About 1,000 houses in each of these cities will be constructed in a year, using six distinct technologies from a basket of 54 such technologies shortlisted under the GHTC-India, 2019. According to the Prime Minister, India is getting new technologies for providing efficient, affordable and comfortable houses to the poor and middle class. Call to planners, students Prime Minister welcomed planners, architects and students from various universities and institutions to visit sites, learn new technologies and mould them for use in accordance with local requirements. Prefabricated sandwich panel system technology would be used in Indore, while in Rajkot, through tunnelling, monolithic concrete construction system from France was being deployed. Precast concrete technology from the U.S and Finland would be used for the construction of affordable houses in Chennai, and in Ranchi, the project would be implemented through the 3-D technology from Germany, he said. In Agartala, the steel-frame technology would be used for constructing earthquake resistant houses and pre-constructed wall technology from Canada would be used in Lucknow. Other government schemes would also be linked to these projects to provide facilities such as water supply, electricity and LPG connection to the beneficiaries.Benefit for middle class A series of measures were taken to promote the real estate sector. Taxes on affordable and regular houses had been reduced significantly to encourage buyers. Home loan interest rates were also reduced keeping the same in mind. The Central rental housing complex project was conceived during the Covid-19, with the objective of addressing the issues faced by migrant labourers. The project was being implemented in coordination with industrialists and other investors.Also Read: Global housing technology challenge for new construction tech

Next Story
Infrastructure Energy

Greaves Electric Mobility Files for IPO

Electric-vehicle manufacturer Greaves Electric Mobility has announced plans to raise Rs 10 billion through an initial public offering (IPO), as stated in its draft papers filed. The company, recognised for its 'Ampere' brand of electric scooters, also produces three-wheelers under a separate brand. Greaves Electric’s major shareholders, Greaves Cotton—a publicly listed entity—and investment firm Abdul Latif Jameel Green Mobility Solutions, will collectively sell approximately 189.4 million shares through the IPO. This move positions Greaves Electric alongside larger competitor Ather En..

Next Story
Infrastructure Energy

IREDA Approves Rs 30 Billion for Odisha's Renewable Energy Projects

Indian Renewable Energy Development Agency (IREDA) has approved funding exceeding Rs 30 billion for renewable energy projects in Odisha as the state strives to achieve its goal of 10 GW capacity by 2030. Pradip Kumar Das, Chairman and Managing Director of IREDA, shared this update during the Odisha Solar Investor Conclave organised by GRIDCO. He emphasised that accessible financing is crucial to fostering the adoption of renewable energy. Das outlined IREDA's significant contributions to funding renewable energy projects in Odisha, spanning sectors such as solar, hydro, ethanol, and renewable..

Next Story
Infrastructure Energy

Oil Prices Rise Amid Light Pre-Christmas Trading

Oil prices edged higher during light trading ahead of the Christmas Day holiday. The increase was attributed to positive US economic data and growing oil demand in India, the third-largest importer of oil globally. Brent crude futures rose by 33 cents, or 0.45 per cent, to reach $72.95 per barrel, while US West Texas Intermediate (WTI) crude futures gained 29 cents, or 0.42 per cent, settling at $69.53 per barrel as of 0114 GMT. Economic indicators in the United States highlighted a surge in new orders for key manufactured capital goods in November, driven by robust demand for machinery. Add..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000