Sunday, August 20, 2006

Rural India set to get Soho-style homes

According to this news:
National Housing Bank in association with public sector banks, is all set to launch a new scheme called Productive Housing in Rural Areas. The scheme, aimed at providing housing in the rural areas, is likely to cost Rs 1,500 crore. Of this amount, NHB may fund about Rs 500 crore. About 25 to 30 districts had been identified for the project.

“We will provide the basic dwelling unit while banks will provide the work area in a house. Owners will need to present a proper business plan for repayment of loans,” Sridhar said (Chairman and managing director of NHB). NHB is also drawing up a plan for integrated townships to be set up next to small industrial clusters in semi-urban areas. “Depending on the area, the cost of the project could vary from Rs 500 crore to Rs 2,000 crore,” Sridhar said, adding that the plan was yet to be finalised. The townships would require independent schools, hospitals and shopping areas, he added.

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