The Confederation of Real Estate Developers’ Associations of India (CREDAI), Odisha chapter, is ready to adopt model 4 of the revised urban housing scheme in the State.
Responding to a Government notification, CREDAI Odisha president Er Binay Krishna Das welcomed the scheme and mentioned that it is a good scheme for the middle class people who can’t afford to purchase their houses in high end residential projects. Das further said the local developers are ready to implement the policy.
Under the model 4, builders voluntarily creating stock of affordable housing will get approval in a super-fast mode, besides incentives and relaxations. The projects will get approval, including permission for land usage change and layout plan, within 60 days.
CREDAI general secretary ErUmesh Patnaik said the members of the association are ready with a land bank of around 20 acres to develop the affordable housing projects in this model at Bhubaneswar with an overall price cap of Rs 15 lakh for each unit.