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Our Bureau

Hyderabad, Jan 5 The Andhra Pradesh Government will spend Rs 8,025 crore in building over 25 lakh houses under the third phase of Indiramma housing prorgamme.

The State Cabinet at its meeting held here on Monday approved the allotment of funds for the programme, the Minister for Information, Mr A. Ramnarayana Reddy, told newspersons.

“With this approval, the State Government has sanctioned 80 lakh houses so far in the last five years. By March 31, 40 lakh houses would be completed under different housing programmes in rural and urban areas in the State,” he said.

The unit cost of each house in rural areas is at Rs 31,200, of which Rs 13,200 is the subsidy, Rs 17,500 is the loan component and Rs 500 is beneficiary contribution.

The Cabinet has approved the allotment of 210 acres to the Tata Institute of Fundamental Research (TIFR) for setting up its second campus at the premises of University of Hyderabad (UoH) at Gachchibowli near here.

Following a memorandum of understanding signed earlier with UoH for setting up of the campus, TIFR had formally requested the State Government to allot the land.

The Cabinet also cleared the allotment of 471 acres in Medak district to Andhra Pradesh Industrial Infrastructure Corporation (APIIC) at Rs 16 lakh an acre for the proposed economic city.

The Govt had entered into a memorandum of understanding with the Government of Ras Al Khaimah (UAE) to develop Hyderabad Economic City last year. The likely investment is pegged at Rs 20,000 crore.

“The city would be an integrated financial hub and with back office operations for banking, insurance, asset management companies, corporate centres, information technology centres, business process operations and plug and play IT infrastructure.

More Stories on : Real Estate & Construction | Andhra Pradesh

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