Haryana’s 40 builders applied for license under the affordable housing policy scheme

By Accommodation Times News Service

As soon as the Haryana government gave the notification for the affordable housing policy 40 applications of the different developers have been received for launching the projects in Gurgaon.

After the completion the procedures of notifying the policy the department of town and country planning (DTCP) received application for license in affordable housing projects. The flats built under the scheme will be in the range of 28 sq metre to 60 sq metre carpet area.  One of the DTCP official confirmed that 56 license applications were moved by builders out of sectors of Gurgaon. He said that they are expecting more and more applications in the future.

Under the affordable scheme the developer will construct affordable houses for which separate license will for which separate license will be applied for. At present it is mandatory for the builders to reservations certain number of flats for the EWS and LIG.

The new scheme has been designed for the people from low-income group the DTCP has fixed the maximum allotment rate of Rs 4,000 per sq ft for flats approved under such projects. The rate for high and medium potential towns is Rs 3,600 per sq ft and the remaining low potential towns is Rs 3,000 pe sq ft respectively. The DTCP has also given out the deadline for the allotment for the flats built under the schemes. 4 years has been the maximum time given to complete to the projects. And if the builders fall to complete the project renewal license is not allowed.

Experts say, this very policy will help leverage the potential of private sector capital investment for development of affordable housing projects. The license fee and the IDC and also lowed higher FAR are some of the factors to attract the builders.

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