Budget 2018: Govt may use loss-making firms' land for 'housing for all
Under PMAY (U), people can
avail benefits under various components to buy a house in urban areas
BUDGET
NEWS : In order to give momentum to affordable
housing projects, the Modi government has identified land available with six
loss-making central public sector enterprises, which it plans to use to build
'houses for all' under the Pradhan Mantri Away Yojana (Urban). The six
companies, including IDPL, HMT, Hindustan Antibiotics and Tungabhadra Steel
Products, have about 3,000 acres. According to a senior government official,
some of the projects would be completed before 2022.
Under PMAY (U), people can avail benefits under various
components to buy a house in urban areas.
"We have put all such proposals on a fast track. The
land available with sick CPSEs is in prime areas. In some cases, we will allow
mixed use," the official told Economic Times.
"We expect more such projects in the near future as the
government has decided to exit loss-making entities," said an executive
with NBCC. NBCC has been appointed as the land management agency to auction the
real estate assets of loss-making companies and will get 0.5% of the value
realised from such sales as fee, subject to a cap of Rs 10 million. The agency
will determine the current land use and its suitability for industrial,
manufacturing or other purpose, according to the guidelines.
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