Bhubaneswar: A pre tender meeting for the green field affordable housing project in Chandrasekharpur area of the city was held recently at the conference hall of the Bhubaneswar Development Authority (BDA) in which, 11 real-estate developers across the country participated.
The final tendering process will be over by the end of February this year. BDA on December 15 had invited proposals from private players in the field of real estate sector, to create a stock of 2,600 affordable houses in Chandrasekharpur over 20.31 acres of land. This project will be developed in the Public Private Partnership (PPP) model.
The location of the project is at one of the most developed areas in the state capital with Lumbini Vihar, Buddha Jayanti Park and many prominent colonies in the neighbourhood.
The project comes under the Model-III of Policy for Housing for All in Urban Areas, Odisha, 2015, to promote development of affordable housing units in the State.
As per the model, the successful bidder in the process will develop 65 percent land of the 20.31 acres area into the affordable housing cluster of 2,600 units along with other essential and additional infrastructure with its own cost.
However, in lieu of the investment made by the developer, the rest 35 percent of land can be develop into high end houses or commercial complexes to sell them at market rates. This development of the commercial segment of the project, would, however, be governed by Real Estate Regulations Act, 2016, and announced by the Centre.