Himachal Realty Attracts Rs 850 Crore

by : Propertiesmls

Himachal Pradesh has registered Rs 850 crore investment in real estate sector during last financial year said state Housing Minister Harsh Mahajan while addressing a function in New Delhi.

Mahajan said state government has enacted HP Apartment and Property Regulation Act, 2005, under which real estate has been opened for private sector and added that govt has received encouraging response from reputed private sector companies for investment in the real estate sector.

He said the state-owned Himachal Pradesh Urban Development Authority (HIMUDA) has played significant role in providing cheap, beautiful and comfortable houses. It has constructed around 15,000 housing units in the state so far and construction work on 10,000 units is full swing and another 25,000 units are in pipeline. He said at present about 6,500 housing units are being constructed by private sector real estate investors in the state.

Mahajan said that around 3 lakh housing units demand has grown in borders areas of the state which witnessed heavy investment under new industrial policy and added that around 5 lakh new residents have added in the major industrial towns of the state due to heavy demand of work force in the new industrial units.

He said the state government has decided to promote private sector investment for development of plots /flats at popular tourists resorts of the state like Shimla, Kulu Manali, Dharamshala where rich metropolitians and industrialists have shown interests for buying flats /houses to maintain second home in hilly place with luxurious climate.

He said state government has received requests from various non resident Indians to set up non-resident Indian city in the beautiful hill state and added that govt is seriously considering this proposal .

The minister said Himuda received attractive prices for flats in famous hill resorts Kufri from rich buyers.

He said the state has taken effective steps to enforce land use laws so that ethnic, cultural and aesthetic value of hilly houses is maintained and protected at all cost and added that state govt will not allow a concrete jungle in the state.

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