Special Correspondent

The projects to bring in investments for Rs.2,060 crore in construction sector

Projects to come up on prime land owned by KSHB

Creation of millions of mandays

Thiruvananthapuram: The Kerala State Housing Board (KSHB) is preparing to join hands with public and private sector companies for construction projects across the State.

Chairman of the board A. Rahmatulla and Housing Commissioner Noel Thomas told reporters here on Thursday that the proposal involved joint venture projects for construction of residential and commercial buildings on 100 acres of land in possession of the KSHB in various places.

The projects would be taken up under the Public Private Partnership (PPP) and Build Share Transfer (BST) scheme as part of a restructuring package expected to bring in investments worth Rs.2,060 crore in the construction sector. The package, they said, would also lead to the creation of millions of mandays.

The PPP projects are to come up on prime land owned by the KSHB in various places, including Kaloor and Marine Drive in Ernakulam, Aakulam in Thiruvananthapuram, Medical College in Kozhikode and Mulankunnathukavu in Thrissur. Mr. Rahmathulla said the projects would help the KSHB clear its debts to various funding agencies.

The BST projects would come up at Pandit’s Colony, P.T. Chacko Nagar (Ulloor), Pattom, Jagathy and Ambala Nagar in Thiruvananthapuram, Panampally Nagar, Kumaranasan Nagar and Thrikkakara in Ernakulam, Chalakudy in Thrissur and Chevarambalam in Kozhikode. Mr. Thomas said the projects would be based on a transparent development agreement with the partnering firm. The new approach, he said, would help the board intervene in the market by offering its share of commercial space or housing at more competitive rates than what the private sector offered.

Mr. Rahmathulla said the board was able to bring down its liabilities from Rs.1,001.76 crore to Rs.750.78 crore over the last three years. The accumulated loss, he said, was also brought down to Rs.480.79 crore. “We were also able to improve revenue recovery and rent collection,” he said. Mr. Rahmathulla said the board would take up the construction of 5,000 houses under the M.N. and Lakshamveedu projects, as well as the reconstruction of 60,000 houses.

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