By Accommodation Times (www.accommodationtimes.com)
The Pimpri Chinchwad New Township Development Authority (PCNTDA) has proposed the plan to construct approx 5,500 houses has been revived. The proposed plan has been allotted to the several categories of income group in the current year. Earlier authority was executing project spread over the 53 hectares in Sector 12with the public private partnership.
The bids had conducted by the PCNTDA for selecting developer for the proposed project. The Union government has approved the fund of Rs150crore for the project and Rs.50crore from a developer. There was a controversy regarding PCNTDA’s demand of 2.5 floor space index (FSI) from the state government. The Union government cancelled the project as PCNDTA was unable to complete it in three years, sources said.
However, the PCNDTA has approved the housing project. “Recently property market facing slowdown and property prices have gone beyond the common man’s reach, but our prime objective is to provide affordable housing to Aam Aadmi. Tenders will be invited before November 30 for the project and applications from citizens for the flats will be invited after the completion of sample flats.