UP to set up satellite townships through pvt investment

In a bid to meet increasing demand of houses, the Uttar Pradesh government has decided to set up self-sustained satellite townships around major cities in the state through private investment.

"To promote private investment in housing sector so as to meet the increasing demand, a new township policy has been framed by the state government in which satellite towns will be developed around major cities of the state," principal secretary housing Shri Krishna said here yesterday.

Under the new policy new townships will be developed on minimum 1,000 acre land with a minimum investment of Rs 1,000 crore.

"Owing to rapid urbanisation in the state, problem of housing and infrastructure facilities has taken serious propositions. In the 11th five year plan a demand of 15.84 lakh dwelling units which is 3.16 lakh per year had been assessed.

Compared to this the total capacity of development authorities and UP Housing and Development Board is only one lakh units per year," he said.

The principal secretary said the development of sustainable satellite cities could offer an effective solution to this problem.