Coming soon: budget homes for you

Your dream home on a budget may soon become a reality.

By Our Correspondent in Ranchi
  • Published 1.11.17
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Ranchi: Your dream home on a budget may soon become a reality.

The Ranchi Regional Development Authority (RRDA) is inching closer to a tie-up with US-based construction company Vega Building Systems to raise low-cost apartments on the outskirts of the state capital.

The Colorado company, which has extensively been profiled on the National Geographic channel for its patented "whole house" concept, is currently accomplishing a project in Gurgaon, Haryana. A team from RRDA is expected to obtain an on-site feedback before inking a formal agreement with Vega.

Chairman of RRDA Parma Singh, addressing reporters at his Pragati Sadan office here after a board meeting on Tuesday, said if everything worked according to plan, they would be able to offer decent 2BHK flats near the city for Rs 20 lakh.

"A buyer will have to pay only Rs 17.5 lakh because the rest will come from the government as subsidy. The best part is that a five-storey residential tower will be ready in five months flat," he said.

According to Singh, the US firm is expected to complete a building phase in Gurgaon by November 20 after which an RRDA team will pay a visit.

"I shall head the three-member team on November 22. We will see the flats made by the American company in Gurgaon. If the feedback on quality is good, we will finalise a deal for Ranchi," the RRDA chairman said.

Under Vega's patented whole house building system, finished, single-family homes are built on self-contained production line proximate to the development site and transported using a robotics-controlled base to the plot, where the house is placed on its foundation.

Singh said they had already started the process of land acquisition for the anticipated project and had also received a go-ahead from the chief minister.

"The RRDA has identified 10 acres in Sithio near HEC Township, on the fringes of the capital, for the first phase. In all, we plan to buy 60 acres from HEC. The government rate of the land, owned by HEC, was Rs 1.2 crore an acre till last year, but the management has now increased the price to Rs 2 crore," Singh revealed.

The RRDA board meeting also discussed other issues, including appointment of a consultant for suggesting development projects around Ring Road; appointment of four engineering staff; and staff salary increment.

Vice-chairman of RRDA Arvind Kumar, chief engineer Suresh Paswan and officials from building construction department and Ranch Municipal Corporation attended the meeting.

Are you looking forward to buy the apartments? Tell ttkhand@abpmail.com