Developers enter into the segment of affordable segment with state govt.’s new policy: Haryana

By Accommodation Times News Services

After Haryana government announced a new policy for affordable housing developers and builders of the Gurgaon has started emerging into the segment of constructing affordable housing. In lieu to the need and demand of affordable housing in the state, government approved ‘’Affordable Housing Policy 2013 for the mass availability of units at low rates through this policy, last week on 6 August.

Many big builders and developers like Unitech, Raheja Develoers and Ramrastha are planning to construct affordable housing under the new policy. Raheja has planned to come u with two affordable housing projects in Gurgaon. Ramprastha and Unitech are still planning their projects but they will soon come up with new projects. DLF has still not entered in to the segment.

The new policy stated the minimum carpet area and the prices prescribed for the per sq. ft. area. According the state’s decision houses built in affordable housing segment would be 301.39-645.83 sq. ft. and at the cost of Rs. 4000 per sq. ft. These prices applied in the areas of Gurgaon Faridabad Panchkula and Pinjore-Kalka. Prices in the other parts of the states are prescribed as Rs. 3 600 per sq. ft.  As per the policy half of the apartments build with a carpet area of 516.67 sq. ft. Such affordable housing projects would have an area of 5-15 acres.

The state government has further added more conditions for the developers as per the policy to construct group housing projects developers have to secure license, along with clearances from environmental department and the project should be completed within four years. The license will not be renewed after the deadline is passed. The licenses are allotted on the first come first served basis and for the distribution of the houses lotteries will be announced.





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