Rajasthan signs MoUs to firm up Rs 5,400 crore investment in affordable housing

NEW DELHI: Rajasthan government has signed four memorandums of understanding, firming up an investment of Rs 5,400 crore to promote affordable housing in the state. The memorandums are part of the 27 MoUs signed by the state entailing an investment of Rs 12,478 crore in housing and urban development projects in Jaipur. Of these, 14 MoUs will bring in an investment of Rs 9,273 crore into housing projects.

Tata Housing Development Company committed to invest Rs 2,000 crore in an affordable and mixed use township over an area of 10.12 hectares. Mahima Real Estate signed an MoU with the state government to invest Rs 1,700 crore in affordable housing and group housing, followed by National Building Construction Corporation and Wish Empire which undertook to invest Rs 500 crore each in Rajasthan, the union urban development ministry said in a statement on Tuesday.

The 14 housing related investment projects are expected to provide employment to 26,650 persons. The other MoUs signed by the state are related to health care, education, industry and tourism in different parts of Rajasthan.

Union urban development minister Venkaiah Naidu said the MoUs mobilising investments in affordable housing will act as a lighthouse for others. He said there is a new churning and new beginning by urban local bodies in the states since the launch of the smart cities mission and a new enthusiasm to address the challenges of urbanisation in the country.

The minister said that recasting of the country’s urban landscape is a challenging task given the inadequacy of basic infrastructure in urban areas which also offers immense investment opportunities.