The state cabinet established a fund of Rs 10 billion for upcoming townships in seven key cities of Uttar Pradesh. The housing department will provide this amount to development authorities to acquire the necessary land for planning the townships. The state government had previously announced a scheme to launch townships in collaboration with local housing development authorities. These townships aim to offer high-quality and legitimate residential units to families residing in the urban areas of the cities.
Nitin Ramesh Gokarn, the additional chief secretary of the housing department, declared that the allocated funds will be utilized to develop townships in Agra, Aligarh, Bulandshahr, Bareli, Gorakhpur, Jhansi, and Chitrakoot.
The department will disburse the Rs 10 billion across the seven cities to kickstart the process of acquiring land. The state will bear half of the land acquisition costs, while the development authorities will contribute the remaining half. The seed capital will need to be repaid to the government over a period of 20 years, with a nominal interest rate applied.
The Chief Minister has urged the department to take proactive measures in providing government-backed residential schemes in the seven cities. The goal is to offer all essential amenities and services to the local population within the township complexes at affordable rates.
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