After a gap of about five years the middle and lower middle class of the city can finally dream of owning a home inside municipal limits
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as Nagpur Improvement Trust (NIT) has decided to construct thousands of flats under central government sponsored Basic Services for Urban Poor (BSUP) scheme. Under the scheme a two bedroom-hall-kitchen (BHK) flat will be available for around Rs 5-6 lakh.
Due to he illogical boom in realty prices new flats inside city limits have gone out of reach of common man. Now, with so many flats available in the market the private builders will also be forced to reduce their sky-high prices.
These flats will be constructed at Hazaripahad, Bhamti and Shesh Nagar, Wathoda. Half of those will be low income group (LIG) flats that will be sold to economically weaker sections while others will be middle income group (MIG) and high income group (HIG) flats.
NIT chairman Sanjay Mukherjee told TOI that the civic agency is giving final touches to the project and the construction will begin in three-four months.
Mukherjee said that NIT owns 20 lakh square feet land at Hazaripahad, 3.30 lakh sq feet at Bhamti and 3.40 lakh sq feet at Wathoda. 50% of this land is reserved for LIG flats while the remaining half for other income groups. Another 5 lakh square feet will be released in the market when the Mayo hospital project takes off.
"While others get 1.25 floor to space index (FSI) for residential constructions, we will get 2.5 FSI for these projects. We will also get a subsidy between Rs 50,000 and Rs 1 lakh per flat from central government and 25% subsidy on infrastructure development in the locality," he said.
Mukherjee said that as NIT will not charge the land price from the buyers the cost of the flats will be quite reasonable. "My estimate is that a two bed room flat will cost between Rs 5 and 6 lakh." The LIG flats will get another subsidy as they would be subsidised by HIG and MIG flats.
The NIT chairman said that the civic agency would not be constructing only flats but will also build schools, dispensaries, hospitals and leave open space for essential facilities like police post, etc.
Commenting on allotment of LIG flats, he said they will be given only to economically weaker sections (EWS) as per norms fixed by central government. The NIT board has accepted these norms in toto.