Uttar Pradesh State Cabinet Allocates Rs 1,000 Crore for New Townships in 7 Cities


    Share post:

    In a significant move, the Uttar Pradesh state cabinet has sanctioned a corpus of Rs 1,000 crore to develop upcoming townships in seven prominent cities. This funding, provided by the housing department, will be utilized by development authorities to acquire the necessary land for planning these townships. The state government’s initiative aims to create quality and legitimate residential units for families residing in the urban areas of the cities.

    Nitin Ramesh Gokarn, the Additional Chief Secretary of the housing department, made the announcement, revealing that the funds would be utilized to establish townships in Agra, Aligarh, Bulandshahr, Bareli, Gorakhpur, Jhansi, and Chitrakoot.

    To ensure a successful implementation, the housing department will distribute the allocated Rs 1,000 crore across the seven cities, providing the initial impetus required for land acquisition. The state will bear 50% of the land acquisition cost, while the development authorities will pool in the remaining 50%. However, it is important to note that the seed capital will be returned to the government over a period of 20 years, with a nominal interest rate applied.

    Chief Minister [CM’s Name] has emphasized the importance of proactively offering government-backed residential schemes in these seven cities. The aim is to provide local populations with access to all necessary amenities and services within the township complex at affordable rates.

    This visionary step by the Uttar Pradesh government is expected to pave the way for well-planned and sustainable urban development in these cities, ensuring a brighter future for the residents. The implementation of these townships is eagerly awaited, and it is hoped that they will set a benchmark for similar initiatives in the future, benefiting citizens across the state.

    Also Read:- ETH Infra launches Haridwar One, a New Landmark in Haridwar


    Please enter your comment!
    Please enter your name here

    Related Posts

    Latest posts

    Housing Prices Surge 10% in Q1 2024: Bengaluru Leads with 19% Increase

    A recent report by CREDAI and Liases Foras reveals that average housing prices in India rose by 10%...

    Real Estate Developers & Agents To Come Out and Register Under RERA: Anand Kumar, Chairman, NCT of Delhi RERA 

    Real Estate Developers & Agents To Come Out and Register Under RERA: Anand Kumar, Chairman, NCT of Delhi...

    Healthcare Giant Narayana Hrudayalaya Invests in Bengaluru Real Estate: Southern Market on the Rise

    Bengaluru Real Estate: Narayana Hrudayalaya, a healthcare company, recently bought a piece of land in Bengaluru for a...

    The aspiring generation driving growth of the student housing segment

    Over the past decade, India’s education system has transformed immensely. This is further accentuated by the country’s technological...