JNNURM may double property prices in City
PROPERTY PRICES in some squatter settlements are likely to soar as the Bhopal Municipal Corporation would soon start developmental works worth Rs 82.14 crore in such localities under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM).india Updated: Nov 29, 2006 01:40 IST
PROPERTY PRICES in some squatter settlements are likely to soar as the Bhopal Municipal Corporation would soon start developmental works worth Rs 82.14 crore in such localities under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM).
The BMC is going to take up development of 84 such localities. An officer on condition of anonymity said prices could even double when the developmental works are complete.
Mayor Sunil Sood, however, refused to be drawn into speculations over property prices. But he said the schemes, when complete, would certainly provide relief to the residents.
Most of these colonies comprise settlements that were illegally developed by colonisers without providing any facilities or the infrastructure. The residents of such colonies belong to lower income group, as the land prices are low. However, the property prices in such settlements are likely to go up after the investment of Rs 82.14 crore in infrastructure.
The JNNURM cell of the Union Urban Development Ministry has already approved the proposal related to the development of such squatter settlements of Bhopal in October last. The BMC officials said that the tenders are likely to be floated for these works within a fortnight.
According to an estimate, the infrastructure development project would cover 15 per cent of total City population besides 42 per cent of the urban poor population of Bhopal. After these developmental works, the infrastructure in such colonies would be better than some of the colonies developed by private colonisers. The proposed project would include construction
of concrete roads, sewer lines, drains, water supply and storm-water drains.
The BMC has prepared projects for 14 wards falling under six zones. Most of the squatter settlements are situated in areas like Bairagarh, Nariyalkheda, Karod, Bhanpur, Ashoka Garden, Chandbarh, Semra Kalan
and BHEL. Some of the gas-affected areas are also included in the project. Besides this project, some other projects of JNNURM would also benefit similar areas as the Union Government has also approved Rs 30-crore scheme for the channelisation of nullahs and Rs 15-crore scheme for water supply arrangement in gas-affected areas. A project worth Rs 8 crore for the infrastructure development at Categorised Market (New Kabadkhana) is also under way.
First Published: Nov 29, 2006 01:40 IST