JIT to develop flats for middle-income group | punjab | Hindustan Times
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JIT to develop flats for middle-income group

punjab Updated: Dec 20, 2014 00:19 IST
Ravinder Vasudeva
Ravinder Vasudeva
Hindustan Times

Fifteen years after the lower-income group residents of the city got a chance to own a house on cheaper rates at Guru Gobind Singh Avenue locality of the city, the Jalandhar Improvement Trust (JIT) is again set to announce a similar scheme by the end of this month.

The agency had developed 200 2BHK (2 bedrooms, hall and kitchen) flats in the area at that time. As per the plan proposal prepared by the JIT, the scheme is set to come up in six acres of land the trust has already identified at Surya Enclave Extension on Amritsar Road.

The draft of the scheme says there will be at least 200 such flats, also known as MIG (middle-income group), a concept that was a big hit in 2000 when flats were allotted through lucky draws.

“The JIT has recently conducted a survey over the people’s response for various flat schemes. It has emerged that MIG flats were in a great demand and we hope that our new scheme will be a big hit,” said Vinay Bublani, JIT chairman.

Even as the JIT had launched a scheme for HIG (3 BHK) flats few months ago, the survey says the concept of MIG flats is still the most popular, especially among the middle class.

The response for these flats has been very low as out of 119 flats that JIT planned to bring up in the de luxe category, only 19 have been sold in the auction. The JIT has decided to conduct another auction for the same.

The JIT chairman said they will hire an architect for the development of the plan and it is going to be a little different from the way MIG flats were constructed in two places in 2000.

The flat price was kept between 10-12 lakh then. Sources said by selling these flats, the JIT is planning to make profits and thus bail itself out of the financial crisis since it is not able to pay the monthly installment of the loan it has taken to develop Surya Enclave Extension.

Meanwhile, the JIT has managed to sell 16 residential and commercial properties in the city during an auction held a few days back.

The properties sold included a house at Master Tara Singh Nagar which went for Rs 85 lakh, commercial properties at Surya Enclave, Guru Amar Dass Nagar and Guru Gobind Singh Avenue.