The Indian army today signed an agreement with a private real estate firm to help its personnel serving in remote areas to buy houses in various cities without any hassles.
This initiative by the Army Welfare Housing Organisation (AWHO) is aimed at providing homes built by reputed private builders at discounted prices to soldiers.
According to Defence News India, leading Indian defence news portal, the Prop Equity, a leading real estate data and analytics consultant has been selected for the scheme after a prolonged process. AWHO and Prop Equity have already 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 spokesperson 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 parts of the country.
AWHO’s main aim is to provide housing to serving as well as retired army personnel and their widows on ‘no profit no loss’ basis.
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