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The Chhattisgarh Housing and Infrastructure Development Board (CGHIB) has generated INR 1,532 crore through the sale of 7,388 residential and commercial properties over the past two years, marking a financial turnaround after a prolonged period of operational challenges. Announcing the figures during the unveiling of the board's new logo in Nava Raipur, Chief Minister Vishnu Deo Sai said the organisation would expand its role beyond housing construction to undertake infrastructure development across the state. He also highlighted the government's focus on affordable housing, noting that approval for 18 lakh houses under the Pradhan Mantri Awas Yojana (PMAY) was granted during the first cabinet meeting after the present administration assumed office. The board's improved financial position is expected to strengthen its capacity to execute future housing and infrastructure projects.
The Chhattisgarh Housing and Infrastructure Development Board (CGHIB) has generated revenue of INR 1,532 crore from the sale of 7,388 residential and commercial properties during the past two years, registering a significant financial recovery after facing operational and fiscal challenges. Chief Minister Vishnu Deo Sai announced the figures while unveiling the board's new logo at a function held at the Circuit House in Nava Raipur during the past week. He said the organisation, previously focused primarily on housing construction, would now play a broader role in infrastructure development across the state.
Sai said the board had achieved the turnaround despite financial constraints and that its improved performance reflected efforts to revive the organisation's finances through the monetisation of available housing inventory. According to him, the expanded mandate would allow the board to contribute more actively to urban infrastructure development while supporting the state's long-term growth agenda. He added that the government remained committed to fulfilling the aspiration of every family to own a permanent home.
Highlighting the state's housing initiatives, the chief minister said the government had acted immediately after assuming office by approving 18 lakh houses under the Pradhan Mantri Awas Yojana (PMAY) during its first cabinet meeting. He stated that the programme reflected the administration's priority of expanding access to affordable housing and accelerating implementation of central housing schemes across Chhattisgarh. More than 10.50 lakh houses have already been completed under PMAY for eligible beneficiaries in the state, he added.
The chief minister noted that the board's strengthened financial position would improve its ability to undertake new housing developments as well as infrastructure projects. The transformation of CGHIB into a housing and infrastructure agency is intended to widen its scope beyond residential construction and enable it to participate in broader urban development initiatives, including civic infrastructure required to support expanding towns and cities.
The announcement comes as several state housing agencies are focusing on improving their financial sustainability through the sale of completed inventory and more efficient utilisation of land assets. For CGHIB, the sale of 7,388 properties over the past two years has generated additional resources that can be deployed towards future residential and infrastructure projects while reducing pressure on public finances. The board has also continued to market residential and commercial properties across multiple cities in Chhattisgarh through various sale schemes as part of its ongoing asset monetisation strategy.
Source - PTI
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