Mangalore : The corner stone for Maurishka Palace, a construction project undertaken by Land Trades Builders and Developers, was laid on Jan 15 Sunday. Abdul Kunhi of Yenepoya Group and Ramesh Kumar of Janatha Constructions laid the corner stones for the two towers of Maurishka Palace.

Maurishka Palace hopes to be a major township in Kadri, constructed on 2.77 acres of land. District-in-charge Minister Krishna J. Palemar, who laid the foundation stone for this structure, said that he welcomes the construction of residential structures in Mangalore. Stating that 70 percent of the Indian population does not have a home, he said that the construction of such residential structures enables common people to purchase a home at affordable rates.

Further, he said that the state government supports private investment in the construction of houses and apartments and plans to provide builder benefits such as income tax reduction and registration fee reduction for such apartments from 7 percent to 3 percent.

Voicing his opinion on the rise of land price, he said that the state government should stipulate the price of land so that everyone can afford to purchase land.

He also said that Rs. 350 crore will be spent in Mangalore on basic amenities such as electric power, drains, water supply, and beautification.

Later, the minister released a brochure on Maurishka Palace.

A. J. Shetty, the chairman of AJ Institute of Medical Sciences; Nithyananda Swamy of Veda Vijnana Kendra in Chickmagalur; and Maulana Abdul Aziz, the vice president of National Ulema Union, were also present.