VUDA decides not to take up big housing projects

Finding a solution to the issue of revising price for the Harita housing project to an end, VUDA fixed the price at Rs. 2,170 per sft, up from Rs.1,719 fixed in 2006.

However, to address the concerns of the allottees, the interest that accrued on their instalments would be adjusted against the payment reducing the burden, VUDA Vice-Chairman N. Yuvaraj told reporters. A decision to this effect was taken at the recent VUDA Board meeting in Hyderabad.

The interest to be calculated on the instalments would be done using software developed by a bank.

The interest payable to the allottees would be calculated up to August 2013. Of the 710 allottees, 42 had taken their money back opting out of the housing scheme.

They would be allotted afresh by lottery in January at the rate of Rs.2,600 per sft.

As of now HIG (4), MIG (32) and LIG (6) are vacant.

Dr. Yuvaraj said opportunity would be given to those among the allottees who want to migrate from one category to the other. VUDA decided not take up big housing projects for HIG and MIG categories.

It, however, would continue housing for economically weaker sections and low-income groups in its layouts at the mandatory 10 per cent.

Consequently, VUDA’s proposed satellite ship at Gambhiram would now be turned into a layout after clearance of land use.

The board decided to drop projects which had been given administrative sanction but could not be taken up for four, five years as they were not feasible.

Shelved projects

Proposals of multi-level parking, satellite township at Gambhiram, food court in YSR Park, beautification of the Beach Road (as separate corridor work is taken up), cultural stage on RK Beach, construction of building for Anakapalle municipality, miniature city atop Kailasagiri and stadium at Srikakulam were among the works dropped.

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