Housing sector: Panel to promote pvt investment | india | Hindustan Times
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Housing sector: Panel to promote pvt investment

THE STATE government today constituted a 13-member high-level committee headed by the chief secretary to encourage private investment in the housing sector and to select private developers for setting up hi-tech townships.

india Updated: May 19, 2006 01:23 IST

THE STATE government today constituted a 13-member high-level committee headed by the chief secretary to encourage private investment in the housing sector and to select private developers for setting up hi-tech townships.

A seven-member advisory panel has also been established under the ED of Awas Bandhu to provide technical know-how, appraisal and assistance to the high-level panel. According to secretary, housing KL Meena, while industrial development commissioner and principal secretaries of Finance, Law, Revenue, housing commissioner, chief town and country planner (CTCP), vice-chairman of concerned development authority, commissioner and district magistrate would be the committee’s member, principal secretary and secretary housing would be its convenor.

The committee, he said, would evaluate the proposal received from a private developer and communicate its decision thereof within 90 days. The state government’s hi-tech township policy 2006 was an open-ended document, he added. Ranging from an area of 1,500 to 5,000 acres, these townships would require a minimum investment of Rs 1,000 cr and would have to be developed within a period of five-year. The developer company would have to pay the stamp duty and acquisition charges. However, the developers would be exempt from these charges for the first 1,500 acres of land.

The seven-member technical committee would comprise vice-chairman of the concerned development authority, CTCP, chief town planner and a representative each of the Government of India, Professor and Head of Urban Planning and Architecture, IIT, Roorkee, Institute of Chartered Accountants or any other member not below the rank of CTCP.

The additional director (planning) of Awas Bandhu would be the convenor of this panel.