KHB to launch Housing Project with Private participation

Mysore, Aug 23(UNI) The Karnataka Housing Board (KHB) will soon launch housing projects in the state under joint venture with private sector, KHB Chairman G T Deve Gowda said today.

Participating in the meet the press programme organised by the Mysore District Journalists Association here, he said that the Board had signed Memorandum of Understanding with nine private builders in the state for building houses, apartments and forming sites, incorporating appropriate features as per guidelines and polices. Of the total nine projects proposed two projects will be launched in Mysore.

Stating that the Board has more then 6000 acres of land in its position and more lands would be acquired, he said that the Board would also provide basic infrastructures like water, drainage, electricity, roads and others to the newly formed layouts.

Land would be purchased from the farmers on a 40:60 ratio, which means that 40 percent of the developed land would be allotted to the land losers and the remaining 60 percent of land would be utilised for the board's projects, he said.

The Board plans to acquire 1000 acres of land around Mysore city and district to form layouts.

The Board has Rs 1350 crores project presently in the state and these projects are under various stages. Currently there are 3,08,000 applicants in the state in the waiting list, out of which 77,000 are for houses and 2,31,000 are for sites and majority of them are from the in and around Bangalore, he added.

He announced that 50 percent of the waiting list would be cleared within one year time and the Board also plans to construct nearly One lakh houses and sites every year during the next five years.

Mr Gowda said it was also decided to construct the houses in future on Vastu. About 15 projects at a cost of Rs 200 crores were nearing completition. A total of 852 houses and 5502 sites are being developed under these projects, UNI BSP MSP SKB1650