TN Housing Board to take up projects worth Rs 1459cr

The Tamil Nadu Housing Board (TNHB) is planning to carry out projects worth Rs 1,459 crore in 2009-10. The state-run agency, which is promoting affordable housing and commercial properties, is also looking at developing some of its properties through public private partnership.

According to a TNHB note presented in the Assembly, in 2008-09 theboard had proposed a budget expenditure of Rs 385.10 crore towards development activities, administrative expenditure and other maintenance activities. During the same year, it generated revenues of Rs 390.84 crore.

During the financial year 2009-10, the board has proposed a budget outlay of Rs 620.15 crore to take up development activities as well as to meet its administrative, organisation and maintenance and other expenditure.

As on date, the TNHB can take up construction of 9,780 dwelling units at an estimated cost of Rs 839.70 crore.

TNHB has signed a memorandum of understanding with the Oil and Natural Gas Commission to construct an integrated office-cum-residential complex for the ONGC employees in Chennai at an estimated cost of Rs 70 crore over 12.12 acres.

The board proposes to develop its properties at KK Nagar, Kilmudalampedu, Sholinganallur and Villivakkam in Chennai along with a joint venture partner.

The proposed projects would be both residential and commercial establishments, the note said.