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AP Govt nod for housing board's township development plan

Our Bureau

Hyderabad , Sept. 24

THE Andhra Pradesh Housing Board (APHB) will explore markets outside the State and country, to develop townships on a public-private partnership basis.

A proposal to this effect made by the Board to the State Chief Minister, Dr Y.S. Rajasekhara Reddy, was accepted by the latter on Friday.

The Chief Minister, who was reviewing the activities of APHB, also wanted the Board to double its plans to construct a minimum of 50,000 houses per year in joint sector. The Vice-Chairman of the Board, Mr S.N. Mohanty, presented a perspective plan for the next five years involving an expenditure of Rs 4,000 crore.

The APHB also sought permission for taking up a pilot housing project on private lands with the participation of landowners through equity routes. It also detailed plans to emerge a major market player, by handling 5-10 per cent of the market by starting joint venture with the private sector, leveraging its own land holding, construction and other strengths.

The Board proposed plans to construct 20 per cent of houses outside the State and another 20 per cent outside the country.

More Stories on : Real Estate & Construction | Andhra Pradesh

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