NEW DELHI: Realty major Tata Housing has shown keen interest in taking up affordable housing projects in urban areas under the Housing for All mission. The ministry has asked the company to come out with a workable model under which it can form joint ventures with the state governments to implement the projects and accelerate the pace of construction.
Sources said that a delegation of the company led by its managing director Brotin Banerjee held a discussion with the Union urban development minister M Venkaiah Naidu on Thursday. “They showcased how they have already built and handed over 10,000 affordable houses to people. They said the ambitious housing targets can be achieved under the mission, if the states and urban local bodies make land and necessary infrastructure available to private project developers,” a ministry official said.
Sources said the delegation said though the prices of affordable houses have increased significantly from Rs 3-5 lakh per unit to Rs 10-12 lakh, the prices can fall if land is made available free for such projects. “All possible options including pre-fabricated model to push pace of construction would be looked into,” said the ministry official.
Meanwhile, Canada has also shown keen interest in investing its pension funds in urban development and infrastructure projects and will be opening an office in Mumbai next month. Canadian high commissioner Nadir Patel said this during his meeting with Naidu on Thursday. He also said that his government is considering entering into a bilateral investment policy agreement with India.
Patel said that Canadian government has about $750 billion in pension funds and is looking at huge investment opportunities now available in India in the context of new urban sector initiatives and stress on infrastructure development. He also said that urban initiatives like Smart City mission, AMRUT, Housing for All top the agenda of his discussions with business leaders and investors.