This massive project calls for an investment of Rs. 50,000 crore
The Karnataka Housing Board (KHB) is all set to develop 50,000 sites on the outskirts of the city as part of the fourth phase, with an investment of Rs. 50,000 crore.
This project — fourth phase of Suryanagar project near Attibele on Hosur Road — according to Minister for Housing M.H. Ambareesh, is the most ambitious project of KHB and will emerge as the biggest housing facility in the State. The Minister told presspersons on Thursday that the KHB plans to acquire 2,400 acres of land for the housing project and notification for this will be issued soon. “We are planning to complete the project in three years,” he disclosed.
Of the 50,000 sites to be created, the plan is to earmark 17,000 sites to economically weaker sections and charge them 50 per cent of the cost. Land would be acquired directly from the farmers through a committee headed by the deputy commissioner. “Farmers can also opt for 40:60 sharing pattern, where 40 per cent of the developed land would be allotted to the land losers and the remaining for the project,” he said. When Mr. Ambareesh was asked about water for the project, he said the government had approved a project to provide water to the layout from the Shimsha at a cost of Rs. 450 crore.