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Rajasthan Housing Board’s PPP dream up for ‘realty’ check

The board to have invited partners for development of multi-storeyed apartments at Vatika, Pratap Nagar and Mahal Scheme areas of Jaipur has been faced with lack of interest by private builders.

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The slack at real estate market has hit public-private partnership prospects of Rajasthan Housing Board. 

The board to have invited partners for development of multi-storeyed apartments at Vatika, Pratap Nagar and Mahal Scheme areas of Jaipur has been faced with lack of interest by private builders.

“There were few bidders to have inquired about the proposal, however, none of them had shown further interest,” says a senior officer at Housing Board. 

The officer admits that the “market is in a bad state for new ventures’ yet ‘the proposal had to be floated in accordance with the process”. 

This has, however, did not come as a surprise for the board as its similar scheme at Mahala scheme floated in 2015 was recalled due to the disinterest of private builders. 

The scheme though proposed under Mukhyamantri Jan Awas Yojna only had provision to develop economically weaker sections (EWS) and Lower Income Group (LIG) flats.

In the recent proposal, the board had broadened the criteria limiting the EWS and LIG housing to only 30 per cent of the constructed space. 

The board has put six blocks of its land measuring aggregating to nearly 241,000 square meter and hopes to add 50 lakh square feet of residential space to Jaipur over next four years, of these nearly 3,000-4,000 flats were to be for EWS and LIG housing.

Though not even all officials at the housing board are contented with the proposal, other than the slack in the market, the locations do not seem promising either.

NO SUPRISE

This has, however, did not come as a surprise for the board as its similar scheme at Mahala scheme floated in 2015 was recalled due to the disinterest of private builders. 

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