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Land with sick PSEs in Pune, Ggn to be freed up for affordable hsg
The Times of India  |  August 12, 2017

Dipak Dash New Delhi

The government's flagship affordable housing scheme is set to get a boost as the Centre is pushing to free up huge land parcels belonging to sick and closing public sector enterprises (PSEs) in prime locations, including in Gurgaon, Hyderabad and Pune. The Centre has identified at least seven land parcels totalling over 2,500 acres where housing projects will come up. About half of the built-up area on these land will be “affordable houses“, sources said.


The identified land are 90 acres at Indian Drugs and Pharmaceuticals Ltd (IDPL) in Gurgaon, 29 acres at HMT Bearing Ltd in Hyderabad, 224 acres and 900 acres in Nainital and Burdwan respectively, 45 acres at HMT Watches in Nainital, 87 acres at Hindustan Antibiotics in Pune and 1,200 acres at Hindustan Engineering in Ranchi.


The government has started the process of closing these loss-making entities and monetising their land, which will be used to meet their outstanding liabilities.


“The Centre is working on the best revenue model and also how affordable houses can be built. Whether these land can be sold out rightly or should be given on long lease will be worked in the next 2-3 weeks,“ said an official.


Sources said Niti Aayog CEO Amitabh Kant and housing and urban affairs secretary Durga Shanker Mishra held a round of discussion on Monday. They added the proper revenue model, process, bidding criteria will be firmed up soon. National Buildings Construction Corporation may be the transaction advisor and project manager.


TOI has learnt that at least 5,000 flats would come up in Gurgaon. “The housing project would be a mix of high-end dwelling units and affordable houses as well,“ a source said.


The draft “Three-Year Action Agenda“ of Niti Aayog has recommended the need to monetise the land in possession of PSEs and to push the availability of land.