Will Bihar be the preferred real estate destination ever?

The real estate in Bihar has lately given some hope of resurgence. People are becoming more aware of their rights (the latest demonstration was their use of voting powers to call for a change of power) and wants to be a part of the developmental boom as in the rest of India. An 'Investment commision' has been formed which will look into facilitating Bihar's development and to promoting it as an investment destination'.

The state is under a process of image building for an investor-friendly state. It promises certain advantages over already developed states in terms of cheap real estate prices, limited labour-related issues and a large educated manpower at nearly one-third the cost compared to Tier I and II cities. However, Bihar is still to go miles before it does some significant improvement in infrastructure, socio-economic backwardness, and law and order.

Will the interests shown by so many of biggies like Tata Group, MaxHealthCare and ICICI translate into actual investment in Bihar?
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  • Bihar approves Rs 120 crore to build homes for 33 lakh poor families
    Rural development and housing department’s principal secretary Arvind Choudhary said 32.86 lakh housing units would be constructed under the CM Gramin Awas Yojana for the poor families.TNN | January 15, 2020, 15:00 IST

    PATNA: The state cabinet on Tuesday sanctioned Rs 120 crore for housing facility to around 33 lakh poor families, who had not been covered under the Pradhan Mantri Awas Yojana of the central government.

    Briefing media after the cabinet meeting, rural development and housing department’s principal secretary Arvind Choudhary said 32.86 lakh housing units would be constructed under the CM Gramin Awas Yojana for the poor families. He said the houses will be built in phases depending on the availability of funds.

    The cabinet also approved the proposal to provide pucca houses to the SC/ST and Extremely Backward Classes (EBC) families affected by Acute Encephalitis Syndrome (AES) in Muzaffarpur district. Five blocks of Muzaffarpur — Kanti, Minapur, Aurai, Musahari and Bochaha — were identified as worst hit by AES last year. A total of 164 children below the age of 15 years had died during treatment at the SKMCH and Kejriwal Matri Sadan in Muzaffarpur in 2019.

    The cabinet also cleared the health department’s proposal to upgrade the Purnia Medical College and Hospital from 300-bed to 500-bed facility. A sum of Rs87.78 crore was sanctioned for the that.

    Principal secretary of health department Sanjay Kumar said the cabinet gave administrative approval of Rs78.50 crore for setting up advance molecular microbiology and molecular genomics lab at the IGIMS, Patna.

    In yet another important decision, the cabinet sanctioned Rs329 crore for setting up schools up to Class IX in every panchayat. Additional 2750 classes in altogether 2950 primary schools in the panchayats, which were upgraded to middle schools, were required to meet the demand.

    The cabinet also sanctioned Rs45.67 crore for renovation of altogether 7,319 wells in rural areas under Jal-Jeevan-Hariyali scheme of the state government. In the first phase, the renovation of 1068 wells will be completed. A total of 14 proposals were approved at the meeting chaired by chief minister Nitish Kumar.