Land acquisition and land cost!
Under the Jawaharlal Nehru National Urban Renewable Mission (JNNURM), the Pimpri Chinchwad Municipal Corporation (PCMC) has planned a Rs500 crore project, under which it would provide houses to EWS. Each of the dwellings would be of 550 square feet and will cost Rs1.5 lakh.
"But the civic body is facing hurdles in acquiring the land for the project at different places. At some places, the cost of the land is high and it would not be possible for the PCMC to sell houses for Rs1.5 lakh,'' maintained sources in PCMC.
According to PCMC officials, the objective of the project is to provide shelter to EWS under the housing scheme to the urban poor at concessional rates. It has planned to construct 13,250 houses. Read More:
Subscribe for Free!To receive free emails or free RSS feeds, please, subscribe to Ravi Karandeekar's Pune Real Estate Market News Blog
For my blogs on real estate projects near Hinjewadi, real estate investment, advertising and other related topics, please, visit and join my Ravi Karandeekar's Pune Real Estate Blog Group