Govt plans to tweak land use policy for affordable housing
The union government is planning to tweak the land use policy which will make the surplus land belonging to sick public sector undertakings (PSUs) available for the low-cost housing in urban areas. The government will appoint the NBCC as the land management agency that will help to sell the land and the proceeds of which will be used to meet their outstanding liabilities and implement voluntary retirement schemes before the enterprises are closed or privatised. According to news sources, more than one lakh homes — of around 800 sq ft each — can be built on the land with just eight PSUs of around 2,500 acres.
Earlier, it was reported that these PSUs include HMT Bearings in Hyderabad, Hindustan Antibiotics in Pune, Heavy Engineering Corporation in Ranchi, Indian Drugs and Pharmaceuticals in Gurgaon and HMT Watches in Nainital. In September, the ministry of housing and urban affairs had announced that eight public-private partnership options, including six for promoting affordable housing using government lands have been evolved after extensive consultations with states, promoter bodies and other stakeholders.