RIICO has amended its land-related rules to make space available for workers’ accommodation on a rental basis. Under the revised policy, land for such housing will be allotted through a bidding process instead of a conventional lease structure.
The new framework provides for a 30-year licence period, creating a longer window for developing and operating worker housing projects. The policy also sets a base rate of 5%, which indicates the financial benchmark for allotment under the updated system.
Another key feature is a two-year moratorium, a provision that could ease the initial burden on project developers as worker accommodation facilities are built and made operational. The changes suggest an effort to improve housing access for workers linked to industrial and employment hubs.
RIICO has also included a public-private partnership model with viability gap funding in the policy design. That points to a structure intended to attract private participation while supporting projects that may need financial assistance to become viable.
