TN to rope in private developers, build more housing

The Tamil Nadu Housing and Urban Development Department is planning to construct housing at 12 locations across the state in a joint venture with private developers, according to state minister S Muthusamy. After chairing a consultation meeting with flat owners of the Singanallur housing unit, the minister said that the department will roll out the joint venture model to construct 960 flats in Coimbatore. “As the flats at Singanallur, which were constructed 35 years ago, have got damaged, residents urged the state government to construct new houses for them. We will construct new houses at the site through a joint venture of the housing unit association, a private constructor and TNHB,” he said. The houses will be built using Mivan technology, an aluminium formwork system, within two years, the minister said. “The developer will use the current space to build the housing unit and in return, get some flats. The structure will last at least 80 years. Residents of TNHB (Tamil Nadu Housing Board) societies in other places have been demanding new houses and six such projects are in the final discussion stage.” See also: Boost in real estate market, highest no. of units registeredPiramal Realty to pump Rs 35 bn into ongoing MMR projects