Explanation:

The Union Territory Administrative Council (AC), headed by Lieutenant Governor recently approved the transfer of 2,318 kanal (289.75 acres ), eight marla (2,178.008 sq. ft.) in seven villages at 17 locations in Srinagar and Budgam districts.

The move comes a month after Dubai-based realtors signed deals with the Jammu and Kashmir government.

The land has been transferred to the Housing and Urban Development Department for construction of housing colonies “free of cost”.

Lieutenant Governor approved the transfer “to meet the increased appetite for housing in Srinagar city and give a push to the housing sector”.

The construction of the Housing Colony Project will play a very important role in the economic, industrial, social and cultural development of Jammu and Kashmir.

It will provide direct employment to skilled, unskilled labour as well as indirect employment to local vendors and youth, besides ensuring the development of local areas to meet the rising housing demand as per the concerned officials.

The Srinagar Development Authority (SDA) and the Jammu and Kashmir Housing Board (JKHB) have been assigned the task of finalising the type designs and other modalities of the projects with a special focus on developing affordable housing on the land parcels.