Vertical model injects boost to MP realty

    Madhya Pradesh Housing and Infrastructure Development Board
    In a recent development, the Madhya Pradesh Housing and Infrastructure Development Board (MPHIDB) has decided to adopt vertical model of development to give new lease of life to its decades-old residential apartments currently lying in dilapidated condition in different parts of the city. The agency will develop high-rise buildings by removing the old apartments as a solution to adjust the cost of construction. At first, the board has selected a ground, + 2 floors building of 24-flats situated in Nehru Nagar to replace it from a high-rise building. The new building will be bigger and taller with facilities like parking. The existing dwellers will get the flats of similar sizes and remaining flats will be sold off to minimize the construction cost and the board is ready to bear cost if goes up to 10% higher than what will return from selling of additional units, chairman, MPHIDB, Krishna Murari Moghe said.
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