Govt to launch real estate ventures for urban families

  • | Wednesday | 7th April, 2021

The acquired land would be developed into housing layouts, some of them gated communities, where the government will build and sell house. The government has already started the process and is accepting applications from urban families till April 10. Layouts will have three categories — MIG I, MIG II, and MIG III — depending on size of plots. Prices will be fixed accordingly, as per the incomes of the families.

Following the launch of 18 lakh Jagananna colonies, the state government has now come up with another scheme to provide housing to urban families. The move is aimed at providing an alternative to urban middle income families from high real estate prices. With most urban middle income families in the state living in rented accommodations, the government has decided to provide them their own homes.

Under the plan, chief minister YS Jagan Mohan Reddy has directed municipal and urban development department to acquire lands in every municipality and municipal corporation. The government has proposed acquisition of at least 25 acres in every municipality and 150 acres under every municipal corporation.
Officials have been directed to purchase land in the open market wherever possible.

The acquired land would be developed into housing layouts, some of them gated communities, where the government will build and sell house. The government has already started the process and is accepting applications from urban families till April 10. Layouts will have three categories — MIG I, MIG II, and MIG III — depending on size of plots. Prices will be fixed accordingly, as per incomes of the families.

The government will develop these layouts with basic infrastructure like roads, electricity, drinking water, drainage, community halls, bus shelters, parks and space for commercial activity. The cost of land and initial investment by the government will also be factored in the prices of plots under the scheme.


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