Rajasthan signs 14 MoUs to bring in Rs 9,273 crore investment into housing in the state

NEW DELHI: Rajasthan government has signed four MoUs firming up an investment of Rs 5,400 crore to promote affordable housing in the state. These MoUs are a part of 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 of the MoUs will bring in an investment of Rs 9,273 crore into housing projects.

Tata Housing Development Company has committed to invest Rs 2,000 crore in an affordable and mixed use township over an area of 10.12 hectares. Mahima Real Estate Private Ltd has signed MoU with the state government to invest Rs 1,700 crore in affordable housing and group housing followed by National Building Construction Corporation (NBCC) and Wish Empire who have undertaken to invest Rs 500 crore each in Rajasthan, the union urban development ministry said in a statement.
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 the areas of medical and health care, education, industry and tourism in different parts of Rajasthan.
Union urban development minister Venkaiah Naidu said the MoUs mobilizing investments in affordable housing will act as a light house for others. He pointed out that there is a new churning and new beginning by urban local bodies and the states since the launch of smart city mission and a new enthusiasm to address the challenges of urbanization 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 offered immense investment opportunities.