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.