Chhattisgarh plans to open space for real estate in Naya Raipur

Move is aimed to populate the upcoming new capital

The leading real estate companies in the private sector could soon see an opportunity to come up with projects in the upcoming new capital of Chhattisgarh.

The new capital city is coming up about 20 kms from Raipur in some 8000 hectare area and will be developed according to international standards, as a satellite town. It would be the fourth planned capital city after Bhubaneswar, Chandigarh and Ahmedabad. While the authorities have planned to house over 500,000 people in next 10 years, the possibilities appear bleak following the response.

Naya Raipur Development Authority (NRDA), the nodal agency for developing the capital city, is working out plans to propel people to settle in the Naya Raipur. The state-run housing board had built over 4000 units but most of the buyers are investors and no mood to stay in the new location. Hardly, 20 per cent houses are occupied. 

“The state government has announced 10 per cent discount on the housing board units; one of the moves to attract people in Naya Raipur,” state’s housing minister Rajesh Munat said. The authorities are eyeing middle and lower income customers as high income group would only be an investor and not an inhabitant.

The NRDA is also planning to amend its policy and allow space for the housing societies and private real estate companies. Till now, only government agencies were allotted land in the Naya Raipur. No private party was allowed to purchase land in the Naya Raipur limits.

“The proposal is being given final shape and will be released soon,” NRDA spokesperson said. The incentives and concession for the private real estate companies are being worked out, he said.