Haryana Cabinet Hikes Allotment Rate Of Affordable Group Housing Projects

Haryana Cabinet Hikes Allotment Rate Of Affordable Group Housing Projects

The Affordable Housing Policy-2013 was amended by the Haryana Cabinet on Friday, which resulted in an average 20% rise in the allotment rates for apartments in Affordable Group Housing projects throughout the state.

Under section 9-A of the Haryana Development and Regulation of Urban Areas Act, 1975, the cabinet, which convened here under the supervision of chief minister Manohar Lal Khattar, approved changes to the Affordable Housing Policy-2013 as revised from time to time.

As a result, the rates defined in the policy for the hyper and high potential zones like (Gurugram, Faridabad, Panchkula, and Pinjore-Kalka) have increased by 800 rupees per square foot on carpet from the previous rate of 4,200 rupees.

According to the statement, it has been suggested that the carpet area for other towns with high and medium potential be expanded by 700 square feet each due to a modest demand and to encourage colonisers to develop new projects.

Along the same lines, the price per square foot for carpet has been raised to 600 for low-potential communities.

The spokeswoman stated, “The aforementioned rates will be made applicable on all licences which are yet to make allotments.” The department informed the public of the affordable housing policy on August 19, 2013.

According to the government, the goal of this policy is to promote the development of group housing projects that include the provision of apartments of predetermined sizes at predetermined rates within a Targeted time-frame as specified under the current policy.

The amendment will ensure an increase in the affordable housing supply of on the urban housing market for the most deserving beneficiaries.

After the changes, the balcony rates have increased by 200 square feet, or to 1,200 per square foot, so that the developers may now recover the additional construction costs by raising the price of the balcony.

Source- Hindustan times

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