₹200 Cr To Kda For New Knp City, Housing Project, Real Estate News, ET RealEstate
KANPUR: To aid the development authorities which lack funds to develop new townships, Chief Minister Yogi Adityanath has decided to provide funds to the tune of Rs 1,580 crore under Urban Expansion/New city encouragement scheme as seed capital to five development authorities and housing development boards to acquire lands in the state.
Under the scheme, the Kanpur Development Authority has recieved Rs 200 crore of which Rs 150 crore would be spent on New Kanpur City Project and Rs 50 crore will be as the first instalment for Bingawan Housing project.
New Kanpur City project was announced in 1996 and the Kanpur Development Authority had presented the proposal again in the investors’ summit. The KDA had later sent the project proposal for sanction before the state government.
A cabinet meeting was held on Monday night in which the housing and urban planning department’s proposal was passed. District magistrate Vishak G Iyer said that land acquisition proceedings had already been completed. It is expected that the project would be executed on ground next year, he added.
