HYDERABAD, Dec 15 The Hyderabad Development Authority (HDA) announced on Monday Gulistan-i-Sarmast housing scheme, which is the only scheme the authority has planned after a long wait of around one decade.

The scheme spread over 2,000 acres is badly needed in the city where value of property has skyrocketed unjustifiably thanks to builders activities.

Even price of a poorly constructed three-room flat in downtown areas has gone beyond the reach of common man not to speak of the cost of a flat or a house in a posh locality, which only the rich can afford.After Kohisar housing scheme launched around two decades back the Gulistan-i-Sarmast will greatly benefit the HDA if it put in place the much needed infrastructure and basic amenities though the authority's track-record is not so encouraging.

The cost of a plot in Kohisar housing scheme phase-I and phase-II has jumped to sky high and only property dealers, investors, builders and wealthy people are investing in them.

District Nazim Kanwar Naveed Jamil formally announced the scheme at his secretariat and termed it a milestone in efforts for provision of shelter to people at cheaper rates.

“We have kept 90 per cent of plots measuring 100 square yards to accommodate as many low-income group people as possible with subsidised rates given present cost of land. The plot's cost is inclusive of development charges,” Mr Jamil said.

He said that in Qasimabad, Latifabad and City talukas a plot measuring 100 square yards was up for grabs for not less than Rs1.5 to Rs1.7 million. The government had ensured that electricity, water and roads were put in place still the infrastructure would require expenditure. “The schemes announced earlier still remained deprived of basic facilities with the result that cost of property didn't rise there,” he admitted.

He said that people invested in property business in the City, Latifabad and Qasimabad talukas so heavily that it became unavailable. “In some cases, the cost of property remained higher than the cost of property in Karachi,” he remarked. Still, only richer people opted for purchasing such expensive houses, flats or plots, he said.

With the launch of Gulistan-i-Sarmast, he believed the cost of property would go down to a great extent.

Land allocated for Gulistan-i-Sarmast has been in possession of HDA since early 80s. Gulistan-i-Sarmast was spread over 2,000 acres out of 5,000 acres of total land of Kohisar housing scheme launched in 1992, HDA sources said.

Now out of 4,800 acres available, 2,000 acres would now be utilised for Gulistan-i-Sarmast and according to district nazim, 40 per cent of it would be used for amenity services.

Officials claimed that the district government announced the housing scheme with the approval of local government ministry after cost of land was recommended last year by a committee at the rate of Rs8 per square yards.

The district government plans to build a metalled road from Unit-11 of Latifabad along the embankment of River Indus.

Sources said that an information technology university, a safari park and a foreign university would be established on the remaining 2,800 acres in the same area.

The price of 100 square yards plot has been fixed at Rs99,000, 120 square yards at Rs118,800, 240 square yards at Rs396,000 and 400 square yards at Rs660,000.