After a hiatus, the Kerala State Housing Board (KSHB) is making a comeback in the real estate sector in the city.
According to officials, the KSHB will construct 72 apartments near the Olympian Rehman Stadium of the Government Medical College Hospital. The 12-storey residential complex will be built on 77.5 cents, which are in the possession of the KSHB.
“The KSHB had constructed affordable homes for middle and low-income groups earlier. But the new project will be for high-income groups,” an official said.
There will be 48 three-bedroom apartments, each having an area of 1,440 sq.ft, and 24 two-bedroom apartments, each with an area of 1,145 sq.ft.
Housing loans“The price of a three-bedroom apartment has been fixed between Rs.50 lakh and Rs.60 lakh, while that of a two-bedroom apartment is between Rs.45 lakh and Rs.50 lakh. The KSHB will also arrange housing loans through nationalised banks,” he added. The proposed residential complex will have three lifts, playground for children, recreation hall, and gymnasium facilities. Each unit will also have separate car porch. The construction of the apartments will start in three months.
The project will be completed and handed over in two years, the official said.
A dedicated 1.5-lakh litre sump tank to exclusively deal with fire disasters will be set up at the residential complex, which will have road access from three sides. “The KSHB has been involved in several housing projects in Kozhikode like elsewhere in the State since 1970,” he said.
The Congress-led UDF government had intervened on behalf of the KSHB to close its liabilities with the Housing and Urban Development Corporation Ltd.
Finance Minister T.M. Thomas Isaac, in his budget speech, had said the KSHB had to redefine itself during recession.
It owns nearly 150 acres in various parts of the State.
