The Hindu : Andhra Pradesh News : Housing Board keen on emerging a market player

Online edition of India's National Newspaper
Friday, Jul 02, 2004

Andhra Pradesh

Andhra Pradesh

Housing Board keen on emerging a market player

By Our Staff Reporter

HYDERABAD, JULY 1. The Andhra Pradesh Housing Board is keen on becoming a major market player and is hoping to handle five to ten per cent of the market requirement for housing.

In the present scenario of easily available bank finance, the Board has redefined its strategy. Doing away with the hire-purchase scheme that limits its programme size, the Board would now prioritise joint ventures with the private sector, leverage its own land holding, construct large townships and revive the focus on housing for low-income groups in cities.

The APHB spokesperson, Ratnam, has said that a perspective plan for the next five years, with an expected expenditure of about Rs. 4,000 crores, had been prepared. The Board's modern township at Pocharam, which is expected to be ready by January, has few vacancies left in the middle income group (MIG) and high income group (HIG) categories.

The project, which is being executed by CESMA, a subsidiary of the Housing and Development Board of the Singapore Government, would have 2,080 apartment units in 82 acres at an estimated cost of Rs. 200 crores. The plinth area of the apartments is in the range of 1,100 sft, 1,400 sft, and 2,000 sft.

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