To meet the increased appetite for housing in Srinagar city and give a push to the housing sector, the Administrative Council (AC), which met under the chairmanship of Lieutenant Governor, Manoj Sinha, approved the transfer of land measuring 2318 Kanal 08 Marla in 07 villages at 17 locations in Srinagar and Budgam districts, free of cost in favour of Housing and Urban Development Department for construction of Housing Colonies.
Farooq Khan and Rajeev Rai Bhatnagar, Advisors to the Lieutenant Governor, Dr Arun Kumar Mehta, Chief Secretary, JK and Nitishwar Kumar, Principal Secretary to the Lieutenant Governor attended the meeting.
The construction of the Housing Colony Project will play a very important role in the economic, industrial, social, and cultural development of Jammu and Kashmir.
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It will provide direct employment to skilled/unskilled labour as well as indirect employment to local vendors and youth, besides ensuring the development of local areas to meet the rising housing demand, the statement said.
Accordingly, the Srinagar Development Authority (SDA) and JK Housing Board (JKHB) have been assigned the task of finalizing the type designs and other modalities of these projects with a special focus on developing affordable housing on these land parcels.
Recently, during Real Estate Summit-2022, decisions were taken to develop housing stocks in both the capital cities of Srinagar and Jammu.