No Developer Shown Interest To Build RHB EWS Houses On PPP Model

Rajasthan Housing Board’s (RHB) idea to achieve the target of constructing houses for the Economic Weaker Section (EWS) and Lower Income Group (LIG) on public-private partnership (PPP) model failed even before taking off. The reason, no developer has shown interest in the scheme.

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No Developer Shown Interest To Build RHB EWS Houses On PPP Model

To construct nearly 4,000 flats under RHB EWS and LIG category, the RHB had recently invited the proposal. As per the proposals, the RHB had invited proposal to construct these houses on nearly 2,41,000 square metre land, which was expected to add 50 lakh square feet of residential space. However, the hopes dashed as developers did not come forward for construction.

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Rajasthan Housing Board’s (RHB) idea to achieve the target of constructing houses for the Economic Weaker Section (EWS) and Lower Income Group (LIG) on public-private partnership (PPP) model failed even before taking off. The reason, no developer has shown interest in the scheme.

As slump in the real estate market continues to prevail, private developers have not shown interest to construct multi-storeyed apartments at Vatika, Pratap Nagar and Mahal Scheme areas of Jaipur. According to RHB officials, no bidder came forward in the bid process. It appears developers are not willing to make investments looking at the present market scenario.

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After receiving a nod from the urban development and housing minister, the RHB eyed at meeting the target set by the chief minister under the ‘Housing For All’ scheme. The RHB had proposed to construct 12,000 units for the Economically Weaker Section (EWS) and Lower Income Groups (LIGs). Sources at RHB said the developers are also not showing interest as land available with RHB is situated in far-flung areas.

Also, many are apprehensive to construct flats as going by the present scenario there are no buyers for RHB flats. Sources added, hit by the prolonged slump in real estate market, the RHB has decided to sell its flats on instalments and discount.

Read Also: Rajasthan Govt Relaxation To Construction Clause On Allotted Land

There are more than 22,000 flats in all districts which were built by the RHB. The RHB would give first preference to its buyers. If more than one buyer comes to purchase a flat, a draw will be taken out to decide to whom the flat should be sold on instalment.

Source Link- https://timesofindia.indiatimes.com/

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