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DDA To Construct 65,000 Houses In Four Years By ugesh sarkar, Section Delhi Real Estate
In a bid to address the acute housing shortage in the national capital, its development authority will build 65,000 houses in the next four years, Urban Development Minister Jaipal Reddy announced here Monday.
'Of these 65,000 houses, 40,000 will be for the urban poor and low income group, and 10,000 will be for the middle income group,' Reddy told reporters while releasing the 100-day agenda of his ministry. The houses would be built by the Delhi Development Authority (DDA), he said. 'Our target is to add 10,000 houses for the low income group every year,' the minister said. 'Apart from that, 15,000 houses will be available between 2009 to 2011.' The government will also provide another 47,500 dwelling units under the slum rehabilitation programme by March 2013. Referring to the slump in the realty sector, Reddy said: 'We cannot help companies but we can give incentives to buyers. Market forces will decide the rest.' He said the finance ministry has been asked to cut interest rates on home loans to 7.5 percent for housing units costing up to Rs.30 lakh. 'We also expect a Real Estate Regulatory bill in 2009,' he added. Source: sify.com DDA to construct 65,000 houses in four years
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