Karnataka revives affordable housing scheme

BENGALURU: Here’s some good news for people of Bengaluru; the government under the chief minister’s Nagarothana scheme will take up a slew of projects worth Rs 7,300 crore to revamp the IT City’s infrastructure.

The cabinet on Wednesday gave its nod to projects which aim to bring new amenities in two years. “The finance department has already agreed to release Rs 6,050 crore,” law minister TB Jayachandra said. The projects involve massive road infrastructure development, construction of underground drainages, stormwater drains and development of footpaths.

With criticisms pouring in over appalling infrastructure, poor traffic and a worsening solid waste management scenario, the government seems to be making a desperate bid to woo citizens before it’s term ends in two years. The government was also under pressure from industry heads, some of whom are part of the vision group set up by chief minister Siddaramaiah recently. Some investors too had taken a dig at the government at the Invest Karnataka Global Summit.

In his 2016-17 budget, Siddaramaiah had allocated a whopping Rs 10,000 crore for BBMP against Rs 4,770 crore last year. The package includes Nagarothana plan, special investment plan and assistance by finance commission and other grants from the Centre.

Jayachandra said the government will set up a high-level committee to clear tenders higher than Rs 10 crore under the scheme to esnure transparency.

Affordable housing policy gets green signal

The cabinet approved an old housing policy that will make ‘affordable homes‘ a reality in the state. Jayachandra said the government has decided to implement the Karnataka Affordable Housing Policy which was notified in October 2013.

The new policy offers incentives and concessions for builders to take up affordable housing projects for the economically weaker sections and lower income groups to ensure the Centre’s dream of providing home to all by 2022.

Credits ET Realty

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