NEW DELHI: The army today signed an agreement with a private firm to help its personnel serving in remote areas to buy houses in various cities without any hassles.
The initiative by the Army Welfare Housing Organisation (AWHO) is aimed at providing houses built by reputed private builders at discounted prices to army personnel.
Prop Equity, a leading real estate data and analytics consultant has been selected after a prolonged process for the scheme. AWHO and Prop Equity signed the pact for the scheme.
“AWHO has come up with a pragmatic business model called the ‘Private Industry Collaborative Business Model’ which will facilitate acquiring houses from reputed private builders at discounted prices for army personnel,” the Defence Ministry said in a release.
It further said a pilot project is being undertaken in Delhi-NCR area and based on its success, similar ventures will be executed in other locations.
Under the scheme, detailed market research will be done to identify the most suitable builder or project and negotiations will be carried out for price reduction and other issues.
AWHO’s mandate is to provide housing to serving and retired army personnel and their widows on ‘no profit no loss’ basis. (AGENCIES)