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Old 04-29-2011
Swanson Swanson is offline
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Default Greater cooperation for greater development

In Ernakulam Real Estate values are always on the higher side.* Thus there remains a prominent role for the private and public agencies to create living spaces by standing within the available constraints and lack of necessary resources.*
Certain key aspects will always help to effect a major change:
i.******************** The housing and urban development agencies, would, however, be well advised to give up the role of long term housing finance, that is, providing plots/ houses on hire purchase basis.*
ii.****************** The financing role should normally be left to the banks and housing finance institutions.* It is desirable that the houses built are sold to the beneficiaries on outright sale so that the resources of the agencies are not tied up for a long time.
iii.***************** The housing and development agencies will require working capital for acquisition of land, laying of infrastructure and construction of houses where considered feasible and desirable.* The National Housing Bank (NHB) proposes to fund such integrated projects that meets their guidelines.* It will provide only short-term loans up to the state of construction, even if the agency desires to continue with the hire-purchase system.* In the latter case, the agency should repay the loan to the NHB after the completion of the construction processes by making arrangements with an appropriate agency for long-term finance.
iv.***************** The housing and land development agencies may undertake projects of land development, either for plot development or for group housing or a mix of both, i.e., individual plots and group housing pockets.*
v.******************* Integrated projects for land development, which include land acquisition, on-site infrastructure can be considered.* No separate proposal for land acquisition alone should be entertained.
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