Housing board woos private builders

PATNA: The Bihar State Housing Board (BSHB) is wooing private builders and developers from across the country to join hands with it under the public-private partnership (PPP) mode to construct houses for weaker sections and lower, middle and higher income groups. In lieu of their help, the BSHB will allot plots to them on 66 years’ lease for the purpose of commercial gains.

Urban development secretary Shashi Shekhar Sharma, BSHB managing director Anupam Kumar Suman and other BSHB officials on Tuesday held an interactive session with 85 private developers and builders, who had submitted their expressions of interest for the construction of one lakh houses in the next five years.

The project has been designed by BSHB transaction adviser M/S Deloitte Touche Tohmatsu India Pvt Ltd. Its theme is “Possible structure of development of residential/commercial properties at various locations in Bihar through PPP”. It was presented at the session which was inaugurated by urban development minister Prem Kumar.

Deloitte suggested a bundled approach for the development of commercial projects by private developers/builder which would exploit income from it to develop BSHB housing projects for weaker sections and lower, middle and higher income groups. The developers/builders for these projects would be selected on the basis of open market competitive bidding.

The BSHB MD said that the developers/builders of the respective commercial projects would be their owners for 66 years on leasehold basis and exploit commercial gains from them during this period. However, the ultimate ownership of the commercial sites would lie with the BSHB.

Prior to this interactive session, the BSHB had floated the development vision for such projects under the PPP on its website along with 30 projects. The BSHB’s objective behind this move is to unlock the value of the prime land parcels and commercial land parcels under its possession in 10 districts of the state, including Patna, by inviting partners from the private sector real estate players to undertake development for them.

Principal secretary Sharma said the houses and commercial sites to be constructed under the PPP mode would be quake-resistant.

BSHB revenue officer Lalan Ji told TOI that the housing board has now got back on the rails by overcoming its financial problems by means of collecting its dues and that it is now moving ahead to accomplish its goal of affordable housing.

The BSHB wants to develop commercial infrastructure (malls, multiplexes, hotels) and use it to develop satellite townships and urban villages in and around Patna, Gaya, Muzaffarpur and Bhagalpur. Besides, it also intends to develop housing facilities for rural and semi-urban people working in urban centres on daily basis.

The BSHB has also signed an MoU with the IDBI Bank for its role in future housing projects. IDBI Bank regional head Rizwan Khan and other bank officials were present at the meet.

Source: Times of India

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