Rs 700 crore for redevelopment fund
The Gujarat Government has initiated a Slum Redevlopment Premium Fund with corpus of Rs 700 crore. This fund will be exclusively for funding affordable housing projects across the state. The state government has already given instructions to all the municipal corporations and municipalities to create their own corpus which will be linked to the SRPF. “ To promote affordable housing in Gujarat, the SRPF will get Rs one lakh each from the centre and state for every house. At present the central government has sanctioned funds for 35,000 houses which means the SRPF will have around Rs 700 crore. The Ahmedabad Municipal Corporation has collected Rs 150 to Rs 200 crore as premium slum redevelopment funds which will be used for projects with low viability. This system will be replicated by civic authorities of Surat, Rajkot and Vadodara,” said Ashwini Kumar, secretary and commissioner of urban housing department.
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