Bhubaneswar Development Authority (BDA) has decided to construct 7,000 affordable housing units by the end of year 2014. The authority took the decision in order to stabilize the housing prices in the capital city of Bhubaneswar.
Bhubaneswar Development Authority has taken the steps in a recent meeting of constructing houses for low income group of the society after the rising of housing prices by the private real estate developers. Out of the total 7000, 5,000 units will be distributed among Lower Income Group (LIG), Economically Weaker Section (EWS) and Middle Income Group (MIG) of the society. The rest 2,000 will cater to people in Higher Income Group (HIG) category. TH e authority is planning to construct at least 5000 LIG, MIG & EWS homes every year starting from 2014.
According to a BDA official, the purpose of the proposal is to provide affordable housing to the economically weaker sections of the city.
There will be G+4 multi-storey residential buildings which are to be constructed under the scheme. The prices of houses will start from Rs. 5 Lakh. Along with this, the authority is also taking steps to prioritize the better implementation of the Odisha Affordable Housing Policy.
The Authority recently also announced a new affordable housing scheme at Shampur where it will construct 1600 houses in the first phase of project.