Sources at RHB said, “The developers are also not showing interest as land available with RHB is situated in far-flung areas.”
JAIPUR: The Rajasthan Housing Board’s (RHB) idea to achieve target of constructing houses for economic weaker section (EWS) and lower income group (LIG) on public private partnership (PPP) model failed even before taking off. Reason: No developer has shown interest in the scheme.
As slump in the real estate market continues to prevail, private developers have not shown interest to construct multi-storeyed apartments at Vatika, Pratap Nagar and Mahal Scheme areas of Jaipur. According to RHB officials, “No bidder came forward in the bid process. It appears developers are not willing to make investments looking at the present market scenario.”
To construct nearly 4,000 flats under EWS and LIG category, the RHB had recently invited the proposal. As per the proposals, the RHB had invited proposal to construct these houses on nearly 2,41,000 square metre land, which was expected to add 50 lakh square feet of residential space. However, the hopes dashed as developers did not come forward for construction.