Andhra Pradesh Housing Board Act to be amended
Housing board allowed to create subsidiary or set up a firm Subsidiary may take to construction of townships within as well as outside the StateIt can also provide urban infrastructure services like slum development
HYDERABAD: A bill to provide financial independence to the Andhra Pradesh Housing Board (APHB) through partnerships, joint ventures and also create access to financial markets to carry out these functions was introduced in the Assembly on Tuesday.
Home Minister K. Jana Reddy piloted the bill that aims to achieve financial independence to the State housing board by amending the Andhra Pradesh Housing Board Act, 1956.
According to the bill, the board may create a subsidiary under the provisions of the Companies Act, 1956 or a society under the Andhra Pradesh Cooperative Societies Act, 1964 or the Andhra Pradesh Mutually- Aided Cooperative Societies Act, 1995 or even be free to set up a firm/company under the provisions of the Indian Partnership Act, 1932. Such a subsidiary created under Section 21-A, may undertake construction of townships on non-competitive basis with the housing board and build integrated townships outside the State.
It may enter into joint ventures, public/private partnerships for group housing, for value-chain on technology upgradation such as pre-cast, furnishings and furniture too.
The proposed subsidiary may also develop integrated townships/housing development/ civil construction projects. It may also provide urban infrastructure services, including integrated housing and slum development, and all ancillary activities.
The subsidiary may however, continue with the business of interior designers, decorators and all activities thereto and other aspects as may be specified by the Board or the Government.
According to the aims and objectives, it is inevitable that the Board becomes financially independent to discharge the new role envisaged in the changed landscape of housing today and in the backdrop of elimination of budgetary support to it.