Property prices escalate on lack of litigation free land: BDA

Lack of litigation-free and clean titled lands has jacked up property prices in the city, according to the Bhubaneswar Development Authority (BDA).

“Land, which is the principal component of housing, is unrealistically high in Bhubaneswar because of unavailability of clean and litigation-free lands. We are trying to raise our land bank stock. The BDA board has approved a land acquisition policy for construction of houses. Once it gets the nod of higher authorities, it will facilitate acquiring lands for housing projects. Developers can construct their projects in association with BDA in those acquired lands, enabling people to buy a house that suits their pockets”, said D K Singh, vice chairman, BDA.

He was speaking at a seminar on 'Let’s Face Urban Challenges', organized by the Orissa chapter of Confederation of Real Estate Developers Association of India (CREDAI).

Real estate developers and prospective property dealers in and around the city would be provided land from the land bank for people belonging to lower income, middle income and higher income groups, Singh said.

Singh said the builders who are in possession of sizeable amount of lands, can form partnership with BDA for development of those lands.

“The BDA, apart from lending its brand name, would also provide other basic infrastructural support to them”, he assured.

Speaking on the occasion, Vishal K Dev, commissioner of Bhubaneswar Municipal Corporation (BMC), highlighted the challenges faced by the civic body to provide better quality life to the denizens of the city.

Solid waste management and providing proper sewerage system and sanitation facilities were the focus areas for the BMC, he said.

“The twin cities of Cuttack and Bhubaneswar are producing 700-750 tonnes of solid wastes everyday. The city will soon have a solid-waste treatment plant at Bhuasuni which will be completed within 24 months”, he added.

“Credai is committed to provide quality and assured products to its clients. We have formed our own code of conduct for good practices”, said president of Credai's Orissa chapter, D S Tripathy.