Rajasthan housing board to develop over 2,500 houses on PPP model

After failing to lure the developers earlier, the Rajasthan Housing Board (RHB) has once again made one more attempt to develop more than 2500 houses on Public Private and Partnership (PPP) model. The board has proposed to develop three multi-storeyed projects at Mansarovar in Jaipur and one in Bhiwadi. For the same, tender have been invited by the RHB. An official informed, 228 flats will be developed at VT road Mansarovar. Similarly, 400 flats in sector -16 and 600 flats in Aravalli Marg of Mansarovar area has been proposed to be developed on PPP model. In Bhiwadli, the board will launch 1300 flats in Aravali Marg. Sources at RHB said, “Earlier, RHB’s idea to achieve target of constructing houses for economic weaker section (EWS) and lower income group (LIG) on (PPP) model failed even before taking off as no developer had shown interest in the scheme.” As there was a slump in real estate market private developers had not shown interest to construct multi-storeyed apartments at Vatika, Pratap Nagar and Mahal Scheme areas of Jaipur. According to RHB officials, “No bidder came forward in the bid process. The developers were not willing to make investments looking at the present market scenario.”