This story is from July 1, 2014

A first, Muda to build apartments on PPP mode

The Mangalore Urban Development Authority (Muda) is planning to dive into an uncharted territory.It will build residential apartments on the public-private partnership model for the first time.
A first, Muda to build apartments on PPP mode
MANGALORE: The Mangalore Urban Development Authority (Muda) is planning to dive into an uncharted territory. It will build residential apartments on the public-private partnership model for the first time.
The construction of apartments measuring 20X30 sqft, 30x40 sqft and 40x60 sqft will be taken up as soon as site owners come forward to be part of the project.
The project, according to Muda officials, will adhere to all requirements and will have all necessary peripheral infrastructure, including roads, parks, drainage systems and other amenities.
Each complex will cover at least 10 acres of land, of which only 55 cents will be taken up to build apartments. The remaining portion will be used for other infrastructure.
Work will commence once suitable land is identified within Muda's jurisdiction. Sixty wards of Mangalore City Corporation, Mulky town panchayat, Ullal town municipality and 27 villages in Mangalore taluk come under it.
A property owner in Kuthethoor near Surathkal has already submitted an application and Muda is expecting more applications from land owners.
Muda commissioner Mohammed Nazeer explains that the authority has planned construction of residential apartments for the first time since its establishment in 1988. "There is a provision in rules to construct residential apartments under the public-private partnership model. But, it had not been tried so far. We have now taken the initiative to commence such projects. We have already invited applications from land owners who are interested in joining hands with Muda to develop residential apartments. Depending on the location and land value, land owners may be granted 35-40% ownership in such projects."
Muda has 12 residential layouts, including private one, under its jurisdiction. The new proposal is aimed at providing houses to the economically-weaker sections and the middle class at affordable rates, says Nazeer, adding that the cost and a detailed plan of the project will be prepared soon. Site owners may be able to lease out the plots around the apartments for commercial establishments.
End of Article
FOLLOW US ON SOCIAL MEDIA