Patna, Jul 3 (PTI) The Bihar government and the Housing and Urban Development Corporation Ltd (HUDCO) on Friday signed a Memorandum of Understanding to develop 12 greenfield satellite townships in the state.
The agreement was signed between Urban Development and Housing Department Principal Secretary Vinay Kumar, and HUDCO Chairman and MD Sanjay Kulshrestha, in the presence of Chief Minister Samrat Choudhary here.
Calling it a “historic step”, Choudhary said the pact with HUDCO for long-term financing of Rs 1 lakh crore would pave the way for the development of 12 greenfield satellite townships in Bihar.
The townships include planned hubs around Patna, Gayaji, Darbhanga, Bhagalpur, Muzaffarpur, Saharsa, Rohtas and Purnea.
The chief minister said the agreement would prove to be a milestone in Bihar’s urban development.
He said the proposed satellite townships, to be developed over an area of more than three lakh acres, would be modern, well-planned and designed to meet future urban requirements, offering better housing and civic amenities.
Farmers will also be made stakeholders in the project through the land-pooling model. Those applying for compensation will receive payment within 30 days, Choudhary said.
He said the initiative would give fresh momentum to Bihar’s economic growth by attracting large-scale private and institutional investments, boosting construction activities, and creating lakhs of direct and indirect employment opportunities.
The greenfield satellite townships will be equipped with modern road networks, drinking water supply, sewerage systems, electricity, green spaces, educational and healthcare institutions, as well as commercial and social infrastructure, officials said. PTI PKD RBT
This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.