Patna, March 11: The monopoly of private players in the city’s real estate sector is all set to be over with the state finance department giving its approval to around 10,000 residential flats and commercial projects of Bihar State Hous- ing Board (BSHB) in public-private partnership (PPP) mode.
The ambitious housing projects would start from BSHB’s colonies at Bahadurpur and Lohianagar. The commercial project sites would be at Hanuman Nagar and Lohianagar.
The approved plans include construction of 5,000 new flats and some commercial establishments at sectors 3, 6 and 7 of Bahadurpur Housing Board Colony. Construction of another 1,500 new flats by erecting 20 towers on 8.56 acres at Sector-5 of Bahadurpur Colony is also in the pipeline. Besides, the finance department has put its seal on the completion of 64 under-construction high-income group flats at Sector-6 of Bahadurpur.
As many as 3,000 flats would be constructed at Lohianagar.
“The finance department has given approval for development of around 25,000 flats, including around 10,000 in the state capital, under the PPP mode across the state. Residential projects apart, the department has given approval for several commercial projects, including malls, commercial offices and hotels, of the housing board,” said a senior officer of the finance department.
The board of the BSHB had approved these schemes in its meeting on November 28 last year. A corresponding proposal was sent to the finance department. The BSHB now expects the final nod from state cabinet soon.
“We are planning to finalise the tender for these projects by April-May and start the construction work soon after,” said a senior officer of the BSHB.
According to sources, the redevelopment projects at Bahadurpur and Lohianagar colonies would be undertaken in four stages. Buildings would be constructed on open land in the first stage. The existing occupants would be relocated in the newly constructed buildings in the second stage.
The old and depilated buildings would be demolished in the third stage and the construction of new buildings, along with landscaping, in place of the demolished buildings would be undertaken in the fourth stage.
If all goes according to the plan, bookings for the “dream homes” is expected to start in May.
“If everything goes in order, we expect to start the booking for the upcoming flats from May. The flats would be available at highly competitive rates. The allotment of the flats would most likely be done through lottery,” said the BSHB officer.
Away from capital
As many as 10,000 new flats and commercial establishments would be developed over 100 acres of BSHB acquired land at Katari and Mustafabad in Gaya.
The finance department has also approved plans for development of 3,000 flats and commercial establishments over 25 acres of land at Damodarpur in Muzaffarpur in PPP mode.