Affordable Housing Policy,2013
Haryana Government’s Department of Town and Country Planning notified an affordable housing policy, 2013 to facilitate additional affordable houses in urban areas of the state. The policy would help to encourage planning and completion of Group Housing Projects. All such projects would be required to be completed within four years from the approval of the building plans or grant of environmental clearance whichever is earlier.
As per policy, the projects would be allowed in residential zones of notified development plans of various towns and cities. The license for such housing projects would be given on a first come first serve basis. Under the Policy, the size of apartments to be constructed will be in the range of 28sqm to 60 sqm carpet area.
The project is estimated to be completed within 4 years period from the date of approval. Through this policy, the state government plans to make available close to 1 25000 affordable dwelling units which have carpet area of approx. 500 sqft carpet area each in the urban centers of Haryana. It will benefit lower and lower-middle class population of approximately six lakhs in the urban centers of Haryana in the next five years period.
Of the 56 applications the Haryana government received from builders for the construction of housing projects under its Affordable Housing Policy, 48 are from Gurgaon.
The state government notified the policy on Monday and invited developers to apply for the scheme, which aims at providing affordable housing units to persons belonging to economically weaker sections.
On the very first day, 56 realtors submitted their applications. The huge response from Gurgaon builders indicates that there’s a huge demand for affordable houses in the city.
Of the rest, six applications were received from developers in Faridabad and one from Jhajjar and Karnal each. According to experts, the policy would help checking illegal constructions and also act as a breather for the otherwise sluggish real estate market.
“The policy will rekindle hope for the common man, as it has a provision for higher population density norms of 850-900 people per acre as against the prevalent figure of 300,” said National Real Estate Development Council (NAREDCO) president Navin Raheja.
For a city like Gurgaon where a two-bedroom apartment sells for anywhere between Rs. 75 lakh and Rs. 1 crore, the new policy has brought a ray of hope for people of low income groups as they would be able to buy a 300 sqft house for as low as Rs. 12 lakh through draw of lots. The price for a 645 sqft flat would come to about Rs. 25 lakh.
The maximum allotment rate for the apartment units approved under such projects will be — Rs. 4,000 per sqft of carpet area in Gurgaon, Fairdabad, Panchkula and Pinjore-Kalka; Rs. 3,600 per sqft for other high and medium potential towns and Rs. 3,000 per sqft for the remaining low potential towns.
In case the builder fails to complete the project, renewal of license will not be allowed by the DTCP as per the regulation
This sort of rationalization of the pricing of housing units will be a virtual bonanza for the builders who are also being offered several other incentives, including exemption from licence fees, infrastructure development charges, FAR of 225 instead of the current 175, a higher ground coverage of 50 per cent against 35 per cent. All of these together would make the realty sector an attractive proposition once again for the builders.
Fact File
-Exemption from license fees, infrastructure development charges
-FAR of 225 instead of current 175; a higher ground coverage of 50 per cent as against 35 per cent at present.
-Four year limit for completing the project.
-A commercial component of 4 per cent allowed in the project.
-Projects allowed on 300 acres in Gurgaon, Faridabad and Panchkula. 150 acres in Sonepat, Panipat and Karnal, Dharuhera, Bahadurgarh and Sohna.
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