UP govt invites bids for development of townships

UP govt invites bids for development of townships

New Delhi: The Uttar Pradesh government today invited bids for the development of townships in the state, envisaging a minimum investment of Rs1,000 crore for each project.

The bids from the developers have been invited by the UP government in pursuance to the New Townships Policy, which aims at creating new housing stock, generating employment opportunities and decongesting cities.

The policy also aims at “facilitating and creating an enabling environment for attracting maximum investment in housing and infrastructure development," said the Request for Qualification (RFQ) document released by the Awas Bandhu, the housing and urban planning wing of the state government.

There will be no limit of townships which can be developed under the scheme, the RFQ document said, adding developers will have to invest a minimum of Rs1,000 crore on each project.

The entire land for the project, it added, would be acquired by the government agencies and transferred to the developer company on lease for 90 years with the right for futher sub-lease.