Govt nod for WB-aided housing sector initiative

CHENNAI: The state government has given administrative sanction to Tamil Nadu Urban Habitat Development Board (TNUHDB) to implement Second Tamil Nadu Housing Sector Strengthening Programme at 190 million US dollars.

According to a Housing and Urban Development Department order, a loan agreement and programme agreement were signed between the Centre and the World Bank and between the state and the World Bank with a loan amount of USD 190 million.

“Further, the preliminary preparation works are in process to take up the proposed land and housing development project with the World Bank assistance to an amount of USD 60 million,” the order said.

The order added that the objective of the programme is to support the state government to increase access to and sustainability of affordable housing by deepening policy reforms and strengthening institutions.

The programme will also promote the sustainability and climate resilience of new assets by mandating the establishment of community-driven operation and maintenance systems in new government-sponsored EWS (economically weaker section) housing units.

“To improve the operation and maintenance in multi-storied apartments and promote climate adaptation, the Government of Tamil Nadu has submitted to the state legislative assembly for approval thereof, a bill to repeal the Tamil Nadu Apartment Ownership Act, 1994 and replace it with the Tamil Nadu Apartment Ownership Act, 2022,” the order said.

It may be noted that the state government is already implementing the First Tamil Nadu Housing Sector Strengthening Programme with funding assistance from the World Bank.