Talengana takes up Rs. 8,541-cr housing venture

In its quest to make available housing units to the homeless, the state government in Telangana has decided to build low cost housing units at an investment worth Rs. 8,547 crore. The funds for the mega project would be generated from various sources as the state housing corporation has agreed to bear Rs 750 crore worth cost for construction of double bedroom houses in different areas of the city. The state has embarked upon building one lakh double bedroom housing units across the state including covering the slum areas of the city. As for generation of funding resources are concerned, apart from the housing corporation, the Central government is likely to sanction Rs 1,500 crore and the remaining portion of the finances would flow from state government’s funding resources, said an official spokesperson.