GCDA returns to affordable housing with Twin Tower Apartment Complex
Real Estate

GCDA returns to affordable housing with Twin Tower Apartment Complex

After an absence of nearly thirty years, the Greater Cochin Development Authority (GCDA) is returning to affordable housing initiatives. The first step in this endeavour involves the construction of a twin tower apartment complex on a one-acre plot of GCDA land in Gandhinagar. To make way for the new complex, the existing old staff quarters on the site will be demolished.

During a meeting on July 3, the GCDA executive committee decided to proceed with the project and submit a report to the state government. Sources indicate that an architect has been selected to provide a feasible design for the development.

Since the flats will be sold to the public, GCDA requires prior permission from the government. Each customer who purchases a flat on the plot will be entitled to a piece of land as well. The government must make a policy decision on this matter, and a proposal will be promptly sent to them.

In the 1980s and 1990s, GCDA undertook various housing projects in and around the city, including row houses in Panampilly Nagar, Gandhinagar, Edathala, and Rameswaram. These properties were constructed and sold to the public, targeting different income groups such as low-income, middle-income, and high-income categories. However, the proposed apartment complex will primarily target the high and middle-income groups due to the high land value in the area.

"Providing affordable housing has always been a priority for GCDA. However, we have not undertaken such projects for the past three decades. The proposed apartment complex will offer modern facilities and be affordable for the public. Although the design is not yet finalised, our rough plan is to construct twin towers, each with 12 floors. There will be a total of 82 units, including both 2BHK and 3BHK configurations. Additionally, our staff will receive improved living quarters," stated a GCDA official.

The estimated cost of the project is approximately Rs 600 million. While GCDA will invest in the project, they aim to finance it by selling the flats. The complex will include a sizable commercial space, such as a shopping complex and a supermarket.

"Constructing affordable projects without compromising on quality is a challenging task, as the government has set high standards for such developments. Therefore, affordability will be prioritised throughout all stages, starting from the design phase. If there is high demand for the flats, we will employ a lotting system. The price of the units cannot be confirmed at this time, but they will be cheaper than the market rate, as GCDA has no intention of making profits," the official added.

After an absence of nearly thirty years, the Greater Cochin Development Authority (GCDA) is returning to affordable housing initiatives. The first step in this endeavour involves the construction of a twin tower apartment complex on a one-acre plot of GCDA land in Gandhinagar. To make way for the new complex, the existing old staff quarters on the site will be demolished.During a meeting on July 3, the GCDA executive committee decided to proceed with the project and submit a report to the state government. Sources indicate that an architect has been selected to provide a feasible design for the development.Since the flats will be sold to the public, GCDA requires prior permission from the government. Each customer who purchases a flat on the plot will be entitled to a piece of land as well. The government must make a policy decision on this matter, and a proposal will be promptly sent to them.In the 1980s and 1990s, GCDA undertook various housing projects in and around the city, including row houses in Panampilly Nagar, Gandhinagar, Edathala, and Rameswaram. These properties were constructed and sold to the public, targeting different income groups such as low-income, middle-income, and high-income categories. However, the proposed apartment complex will primarily target the high and middle-income groups due to the high land value in the area.Providing affordable housing has always been a priority for GCDA. However, we have not undertaken such projects for the past three decades. The proposed apartment complex will offer modern facilities and be affordable for the public. Although the design is not yet finalised, our rough plan is to construct twin towers, each with 12 floors. There will be a total of 82 units, including both 2BHK and 3BHK configurations. Additionally, our staff will receive improved living quarters, stated a GCDA official.The estimated cost of the project is approximately Rs 600 million. While GCDA will invest in the project, they aim to finance it by selling the flats. The complex will include a sizable commercial space, such as a shopping complex and a supermarket.Constructing affordable projects without compromising on quality is a challenging task, as the government has set high standards for such developments. Therefore, affordability will be prioritised throughout all stages, starting from the design phase. If there is high demand for the flats, we will employ a lotting system. The price of the units cannot be confirmed at this time, but they will be cheaper than the market rate, as GCDA has no intention of making profits, the official added. 

Next Story
Real Estate

RBI Rate Cut Boosts Confidence Across Housing Market

Industry Context and Market DynamicsThe real estate industry has welcomed the RBI’s rate cut as a timely boost to affordability and demand. With home prices having risen steadily across major markets, even a marginal reduction in interest rates meaningfully strengthens purchasing power, especially for first-time and mid-income buyers.Ashish Jerath, President – Sales & Marketing, Smartworld Developers, observes:“The RBI’s 25-basis-point cut, bringing the repo rate down to 5.25%, is a timely boost for the real estate sector. Lower interest rates reduce borrowing costs, enabling homeb..

Next Story
Infrastructure Transport

BMC Resumes Rs 170 Billion Road Works, Targets 80 per cent By Jan 2026

Following the withdrawal of the southwest monsoon in October, the Brihanmumbai Municipal Corporation (BMC) has restarted work on 645 roads—covering 297.49 kilometres—under its large-scale concretisation programme. Data shows that more than 60 per cent of the resumed works are located in the western suburbs. Officials said the civic body aims to complete concretisation on 80 per cent of the roads where fresh work has begun by January 2026. Launched in 2022, the Rs 170 billion project seeks to concretise 700 kilometres of roads across Mumbai. All civil works were halted during the monsoon ..

Next Story
Infrastructure Urban

India Pushes Digital Shift In Urban Land Mapping

The Department of Land Resources (DoLR) under the Ministry of Rural Development has convened a National Symposium on NAKSHA – the National Geospatial Knowledge-based Land Survey of Urban Habitations – to advance India’s transition to modern, technology-driven land mapping. Speaking at the inaugural session, Secretary Manoj Joshi underscored the urgent need to move revenue departments away from outdated, tape-based methods and rough hand-drawn sketches. He stressed that adopting latitude–longitude-based digital mapping and GIS-linked registration systems is essential for economic stabi..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Open In App