The work commencement on new houses during the fiscal declined to less than 2 per cent compared to last year
The last fiscal year turned out to be the dullest over past couple of decades for the Rajasthan Housing Board. There were merely 43 new houses on which work commenced during the year,which has been lowest since 1990.The housing board for more than two decades had been adding thousands of new houses on its work tally each year.However, correction in the real estate market restricted its advancement. The work commencement on new houses during the fiscal declined to less than 2 per cent compared to last year.
According to the department, during 2016-17 work commenced on 7 houses for Economically Weaker Section (EWS),7 for Lower Income Group (LIG), 6 of Middle Income Group (MIG) and 23 for Higher income group houses (HIG). In the previous year, the board had initiated work on 3,450 new houses, consisting more than 100 in each of the above-mentioned groups.
The slump in the real estate market has refrained the board from taking up new housing projects and the numbers are constantly declining since 2012-13 when the board had initiated construction of more than 10,000 houses. The market trend in the meantime, also further discouraged private builders towards schemes such as ‘Mukhymantri Jan Awas Yojna 2015.’ A project to develop 2592 EWS/LIG flats at Mahal Scheme, Jaipur, announced in 2015 failed to attract investors despite being tendered twice. A flat project under the Jan Awas Yojna in Jodhpur also failed to take off in the absence of interested investors.
Impact of the slump was also noticeable in projects under the Affordable Housing Policy 2009. Under the policy, work on nearly 3,000 new houses was being initiated each year till the last fiscal year. However, in the last fiscal work commenced on only 16 new houses under the scheme.
Meanwhile, the tally of unsold properties of the board continues to increase during the year as work has been completed on nearly 6,300 houses during the year. Yet the work of allotment and possession handling by the board also registered declined. There were 1,682 houses allotted by the board during the year which were less than a quarter of 6,925 houses allotted the previous year.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "Housing Board")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}