Black money invested in real estate in Bihar: minister

Huge amounts of black money are invested in real estate in Bihar, particularly in the state capital, pushing prices of apartments to unrealistic levels, state Urban Development and Housing Construction Minister Prem Kumar said today.
The admission came when opposition members raised the issue in the state assembly.
Apartments in Patna and other cities and towns in Bihar are dearer in comparison to New Delhi and other big cities, he said while replying to a debate on the Urban Development and Housing Construction department's budget of Rs 2115.90 crore for 2013-14.
The builders are 'making a kill' by selling apartments at the rate of Rs 4000 per square feet or more which made housing in Patna dearer than other major cities in the country, he said.

In view of the escalating cost of apartments and real estate in Bihar, the state government has decided to build one lakh houses every year to be given to people of middle and lower income groups at affordable rates, he said.
Kumar also announced that Bihar would be made slum-free over the next couple of years and his department has undertaken construction of basic infrastructure and civic amenities like drinking water, road, drainage in 56 slums. The work will be completed by the next monsoon.
Altogether, 1841 slums have been identified in Bihar where basic infrastructure and amenities will be laid down in the next couple of years to make the state slum-free, he said.

Referring to traffic congestion, he said the department has decided to explore viability of metro rail service and proposed to set up a bus stand in the outer periphery of the city to decongest it.