Affordable housing: Builders pledge Rs 1.34-lakh crore investment

Sankalp Disable Association promises Rs 5,592 crore to build nearly 25,000 houses specially designed for differently-abled persons, which will be provided at a annual rent of Re 1

A "FREE" residential scheme for the differently-abled at an annual rental of just Re 1 was among the eight major memoranda of understanding (MoUs) worth Rs 1,34,600 crore signed at an event for affordable housing on the second day of the Vibrant Gujarat Global Investors' summit (VGGIS) in Gandhinagar.

This Rs 5,592-crore MoU for "free" houses was signed by city-based Sankalp Disable Association (SDA). The SDA has pledged to provide nearly 25,000 houses specially designed for the differently-abled at 10 different locations, including Shiyal in Ahmedabad, Ukai, Surendranagar, Bhuj, Himmatnagar, Surat, Rajkot, Gandhinagar, Vadodara and Palanpur.

The SDA will invest the pledged amount over the next five years and these houses will be provided for lifetime at a annual rent of one rupee.

Tata Housing signed an MoU promising to invest

Rs 3,500 crore in urban affordable houses in Ahmedabad district.

City-based Bakeri Urban Development Private Ltd signed an agreement worth Rs 1,500 crore for developing 1.5 lakh square metres of land in Ahmedabad (Vejalpur) for an affordable housing scheme.

The biggest of the MoUs in the sector was signed by Chicago-based high-rise developer Hawthorne Development Corporation, pledging an investment of Rs 1,00,000 crore. The company plans to bring in affordable housing technology to build houses that are cost-effective and can withstand natural calamities.

Another Rs 15,000-crore MoU signed by Elematic of Finland and Dutt Design India Pvt Ltd proposes to bring modern pre-cast technology to the state. Similarly, UK-based Spiroll Precast Services Ltd and Apollo Infratech Pvt Ltd signed an MoU worth

Rs 5,000 crore to provide technical support to build homes using precast technology, including design, manufacturing, erection and commission of buildings.

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