Army signs MoU for housing

The Army Welfare Housing Organisation (AWHO) on Friday signed an agreement with a private market research firm for support in its housing projects, said an official.

A Memorandum of Understanding was signed by Lt. Gen. Rakesh Sharma, Chairman (ex-officio), AWHO, and Samir Jasuja, MD, Prop Equity Analytics.

"AWHO has come up with a pragmatic business model called the 'Private Industry Collaborative Business Model' which will facilitate acquiring houses from reputed private builders at discounted prices," said a release from the Ministry of Defence.

"A Pilot Project is being undertaken in Delhi/NCR and based on its success, similar ventures will be executed in other locations," the statement said.

The business model is based on identification of suitable sites and selection of suitable builder through a market research, price negotiations with buyer-friendly terms and conditions.

AWHO provides housing to serving and retired army personnel and their widows on 'no profit no loss' basis in selected popular stations.

Prop Equity Analytics is a leading real estate data analytics consultancy firm and selected after a process to undertake the project forward.

--IANS

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