Liberal Plotted Housing Policy to Boost Affordable Housing in Haryana

The recent policy initiative of the Haryana government to relax Deen Dayal Jan Awas Yojana by reducing minimum area requirement along with group housing societies being developed by private builders, will not only boost the supply of affordable housing but also help achieve the targets of flagship ‘Housing for All by 2022' scheme. In a major policy revamp, the minimum area required for developing a residential plotted colony has been substantially reduced from 100 acres to 25 acres for hyper zones including Gurgaon and Gurgaon Manesar Urban Complex,For high potential zone including Faridabad Panchkula, Galpharm, Bandhwari, Sonepat- Kundli Urban Complex, Panipat, the minimum area has been reduced from 100 acres to 20 acres. There is minimum area norm of 15 acres for medium potential zone including Karnal, Kurukshetra, Ambala, Yamuna Nagar, Bahadurgarh, Rohtak, Palwal, Rewari, Dharuhera-Bawal and 10 acres for low zones. In a related move Deen Dayal Jan Awas Yojana has been extended to Gurugram - Manesar Urban Complex. Deen Dayal Jan Awas Yojana is meant to encourage the development of high density plotted companies through a liberal policy framework aimed at checking to mushroom of unauthorized colonies and simultaneously achieving a target of ‘Housing for All’.The scheme makes it possible for buyers to purchase freehold litigation- free plots with loan facility up to a maximum of 80% of the cost of the plot. First-time buyers can also avail interest subsidy of about 2.5 lakh under CLSS of Pradhan Mantri Awas Yojana. To encourage the developers of such plotted colonies by private developers, the rates of the license fee and external development charges have been substantially reduced while the Change of Land Use charges is waived off. As part of Affordable Housing Policy, relaxations have been extended to Group Housing projects as well by reducing the minimum area requirement from 10 acres to 5 acres, thereby making land acquisition easier to undertake affordable housing projects. Further, the total area limit for r Affordable Group Housing in a sector has been doubled from 15 acres to 30 acres... Says Pradeep Aggarwal, Chairman, Assocham National Council on Real Estate, Housing & Urban Development & Founder & Chairman Signature Global, “ This new liberalized policy is a real boon for affordable housing boosting both supply and demand. It will be beneficial for developers, home buyers and investors. The reduction in minimum area requirement for plotted developments and group housing will to a greater extent tackle the problem of land acquisition. Moreover, doubling of total area limit in a sector, together with the extension of the plotted scheme to newer areas like Gurugram will give a boost to supply of affordable housing, in turn helping in meeting the targets of ‘Housing for All’.