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Bhubaneswar Low Income Housing

Bhubaneswar Low Income Housing

IFC has assisted the Bhubaneswar Development Authority (BDA) to structure a public-private partnership for the design and construction of a greenfield housing project in Bhubaneswar, using private capital for the creation of affordable housing. A development agreement with the SPV formed by the selected bidder was signed in June 2017. The project includes the construction of 2,600 affordable housing units for Economically Weaker Sections of society on 13.7 acres of land, with cross subsidization of 6.5 acres to allow the private investor to construct residential apartments as well as commercial construction. The project includes an integration of the subsidy available under Pradhan Mantri Awas Yojana (Urban). To facilitate this project, the IFC team supported BDA in reviewing and recommending changes to the Affordable Housing policy of the State.