1. Home
  2. Real Estate
  3. Rajasthan govt to take Rs 200 cr loan from HUDCO to build 23,000 homes
Rajasthan govt to take Rs 200 cr loan from HUDCO to build 23,000 homes
Real Estate

Rajasthan govt to take Rs 200 cr loan from HUDCO to build 23,000 homes

05 Jan 2022 2 Min Read CW Team

The Rajasthan government plans to build 23,000 homes after getting a loan or Rs 200 cr from the Housing and Urban Development Corporation Ltd (HUDCO).

The urban housing department had earlier planned to build about 23,000 homes for the economic weaker section (EWS) and lower-income group (LIG) across the state under the public-private and partnership (PPP) model. But, the construction work was delayed after just 10-15% of allottees managed to deposit the installments.

An official told the media that the department would take a loan of Rs 200 crore to achieve these projects. While Rs 160 crore will be used to build the pending 19,244 homes under Jan Awas Yojana, Rs 40 crore will be spent on developing 4,112 affordable homes.

Previously, to accomplish the goal of the ambitious scheme, the state government had rendered significant relaxations to developers in the state. The government had relaxed the conversion of land policy for developers developing homes for the economic weaker section (EWS) and the lower income group (LIG) under the Mukhyamantri Jan Awas Yojana. But, nothing can provide the project with momentum during the pandemic.

Private parties constructing residential projects on their land have to reserve 10% of the saleable area in offered colonies and a 7.5% floor area ratio in apartments for EWS and LIG categories. But, if the plotted development is less than 2 hectares and lower than 5,000sq m (flat development), the developers have the choice of paying the costs. For plotted development, developers can deposit 10% value of the saleable area land. This price is levied according to the reserve price or district lease committee (DLC) rates. Similarly, the department costs Rs 100 per sq ft for 7.5% of the floor area ratio (FAR) for flat construction.

Image Source

Also read: Govt approves construction of over one lakh houses under PMAY-U

The Rajasthan government plans to build 23,000 homes after getting a loan or Rs 200 cr from the Housing and Urban Development Corporation Ltd (HUDCO). The urban housing department had earlier planned to build about 23,000 homes for the economic weaker section (EWS) and lower-income group (LIG) across the state under the public-private and partnership (PPP) model. But, the construction work was delayed after just 10-15% of allottees managed to deposit the installments. An official told the media that the department would take a loan of Rs 200 crore to achieve these projects. While Rs 160 crore will be used to build the pending 19,244 homes under Jan Awas Yojana, Rs 40 crore will be spent on developing 4,112 affordable homes. Previously, to accomplish the goal of the ambitious scheme, the state government had rendered significant relaxations to developers in the state. The government had relaxed the conversion of land policy for developers developing homes for the economic weaker section (EWS) and the lower income group (LIG) under the Mukhyamantri Jan Awas Yojana. But, nothing can provide the project with momentum during the pandemic. Private parties constructing residential projects on their land have to reserve 10% of the saleable area in offered colonies and a 7.5% floor area ratio in apartments for EWS and LIG categories. But, if the plotted development is less than 2 hectares and lower than 5,000sq m (flat development), the developers have the choice of paying the costs. For plotted development, developers can deposit 10% value of the saleable area land. This price is levied according to the reserve price or district lease committee (DLC) rates. Similarly, the department costs Rs 100 per sq ft for 7.5% of the floor area ratio (FAR) for flat construction. Image Source Also read: Govt approves construction of over one lakh houses under PMAY-U

Next Story
Infrastructure Urban
15 Nov 2024

Shoals' Q3 2024 revenue falls 23.9% due to project delays, supply chain

Shoals Technologies Group, a U.S.-headquartered manufacturer of electrical balance of systems (EBOS) for solar, energy storage, and e-mobility, reported a 23.9% year-over-year (YoY) decline in revenue, which dropped to $102.2 million in the third quarter (Q3) of 2024. This decline was mainly attributed to project delays and supply chain disruptions. The company posted a net loss of $300,000, a significant improvement compared to the $9.8 million net loss in Q3 2023. Adjusted net income was reported at $13.9 million, reflecting a 58.2% YoY decrease. Adjusted EBITDA stood at $24.5 million, a 4..

Read More
Next Story
Infrastructure Energy
15 Nov 2024

FTC Solar sees 67% YoY decline in Q3 revenue from lower volumes

FTC Solar, a U.S.-based provider of solar tracker systems, reported a revenue of $10.14 million in the third quarter (Q3) of 2024, surpassing analyst expectations by $240,680. However, this figure marked a 66.8% year-over-year (YoY) decline compared to the same quarter in 2023, primarily attributed to reduced product volumes. The decline in solar tracker revenue was mainly due to an 82% decrease in the amount of MW produced, which was negatively impacted by delays in customer projects. This was partially offset by an increase in the average selling price (ASP), which led to better pricing an..

Read More
Next Story
Infrastructure Urban
15 Nov 2024

Dilip Buildcon wins bid for BharatNet Phase III broadband project

Dilip Buildcon announced on Tuesday, November 12, that its STL-DBL consortium had submitted the lowest bid for BSNL's BharatNet Phase III broadband connectivity project. The USOF-funded project, which aims to provide middle and last-mile connectivity in Jammu Kashmir and Ladakh, is valued at Rs.1,625.36 Crore. Dilip Buildcon holds a 70.23% stake in the implementation of the project. The project is expected to be completed in three years, and the corporation will secure a 10-year maintenance contract. In recent days, BSNL has awarded several contracts for the BharatNet project. On Monday, No..

Read More

Opinion Poll

Question : Which technological advancement do you believe will most transform the real estate industry in the coming years?

Latest updates

Shoals' Q3 2024 revenue falls 23.9% due to project delays, supply chain
ECONOMY & POLICY
15 Nov 2024

Shoals' Q3 2024 revenue falls 23.9% due to project delays, supply chain

FTC Solar sees 67% YoY decline in Q3 revenue from lower volumes
POWER & RENEWABLE ENERGY
15 Nov 2024

FTC Solar sees 67% YoY decline in Q3 revenue from lower volumes

Dilip Buildcon wins bid for BharatNet Phase III broadband project
ECONOMY & POLICY
15 Nov 2024

Dilip Buildcon wins bid for BharatNet Phase III broadband project

KPIL secures new orders worth Rs 22.73 billion
Real Estate
15 Nov 2024

KPIL secures new orders worth Rs 22.73 billion

NMDC Steel Q2 loss expands to Rs 5.95 bn, income at Rs 15.35 bn
Steel
15 Nov 2024

NMDC Steel Q2 loss expands to Rs 5.95 bn, income at Rs 15.35 bn

Kochi's Valanthakad Island to Get Bus Connectivity with Bridge Completion
RAILWAYS & METRO RAIL
15 Nov 2024

Kochi's Valanthakad Island to Get Bus Connectivity with Bridge Completion

KTR Demands Cancellation of Rs.88 Billion AMRUT Tenders
ECONOMY & POLICY
15 Nov 2024

KTR Demands Cancellation of Rs.88 Billion AMRUT Tenders

Bengaluru-Chennai Expressway: 72km Karnataka Stretch Completed
ROADS & HIGHWAYS
15 Nov 2024

Bengaluru-Chennai Expressway: 72km Karnataka Stretch Completed

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