6254 new homes at Rs. 1700 Crores in Chennai!
Posted on: 27/Nov/2014 3:27:09 PM
The Housing Board has decided to demolish 2238 houses owned by it and construct 6254 new houses at a cost of Rs. 1700 Crores.
The Housing Board owns 2238 houses in Tadandar Nagar, Peter’s Colony, Lloyd’s colony, Venkatapuram, and Pattros Road.
The board has planned to demolish these houses and construct new 6254 houses.
In the 1st phase, it will demolish the constructions at Tadandar Nagar (48 houses) and Peter’s Colony (240 houses) and construct a multi-storeyed apartment building.
The Housing Board owns apartments in 17 locations in Chennai city. They are more than 40 years’ old.
Roofs, balconies, and staircases have been collapsing rendering the buildings in very bad condition.
Government employees, some politicians, and some eminent personalities reside in these places.
The Housing Board has sent notices to all the occupants of Lloyd’s Colony, Tadander Nagar and Peter’s Colony to vacate the premises and hand them over.
The occupants have asked for time till April/May 2015 when the academic year of their children will get over,
The Housing Board has planned to complete the new construction before December 2015.
Tadandar Nagar will have a multi-stroreyed apartment of 302 houses in place of the old 48 houses.
Peter’s Colony will have a multi-storeyed apartment of 694 houses in place of the old 3436.
Lloyd’s colony will have a multi-stroeyed apartment of 1076 houses in place of the old 240.
40% of the houses will be sold to private individuals. They have to pay the full cost in 4 installments and own the house.
The price will depend on the locality.
Out of the 6254 new houses built at a cost of Rs. 1700 Crores, 2608 houses are to be sold to private individuals.
The rest of the houses will be rented to government employees, eminent personalities, politicians, and the public.
The Housing Board intends to recover the cost of construction by selling the new houses.
