Visakhapatnam: The state-sponsored housing schemes – the existing Jagananna Housing for the below poverty line (BPL) and the newly launched MIG houses under the Jagananna Smart Town (JST) for the middle income groups — are giving a tough competition to real estate players in Andhra Pradesh.
A builder in Madhurawada area said, “We are still struggling to recover from the ill effects of the Covid19 since its outbreak in March 2020. Meanwhile, the government’s real estate schemes are unfolding in the state. This will have an adverse impact on our business.”
Contrary to this, CREDAI Vizag president Srinivasa Rao said, “We will not be affected at all. There is no land in the city or even the outskirts for new layouts. Ultimately, people will go for private ventures only.”
Under the new JST scheme, the plots will be in three categories – 150 sq yards, 200 sq yards or 240 sq yards, and all these will be set close to the urban areas. As per a survey, nearly 3.79 lakh people have evinced interest in getting MIG houses under the JST, which is being handled by the Municipal Administration and Urban Development (MA&UD) department.
A government employee, who awaits the government’s HIG scheme, said: “Usually, people like me or the salaried private employees prefer a government scheme. JST will be good if it is implemented in the right manner.”
Speaking to Deccan Chronicle, housing department principal secretary Ajay Jain said, “The government’s housing schemes will have an impact on the private real estate sector. We are committed to provide housing for all eligible people as per established norms. We have set a target of 30.99 lakh houses. 15.6 lakh house pattas were already allotted through the Housing department.”
The state has a crop of 8000-1000 builders and layout venture units, including 2,000 in Vizag, which are contributing a share of nearly 60 per cent of the total revenues of Rs 4,500-Rs 5,000 crore through the Stamps and Registrations department....