Haryana approves 'affordable housing policy'

For mass availability of dwelling units at affordable rates through grant of licence, the Haryana government today approved "Affordable Housing Policy 2013".
The policy will ensure increased supply of 'Affordable Housing' in the urban housing market to the deserving beneficiaries, it was informed at a meeting of the State Cabinet, which met here under the chairmanship of Chief Minister Bhupinder Singh Hooda.
Through this policy, the state government envisages to make available close to 1,25,000 affordable dwelling units having carpet area of about 500 sq ft carpet area each in the urban centres of Haryana, which are constructed through the capital investment of private sector within a period of next five years, an official spokesman said.

"Once available, this supply alone is likely to serve a lower and lower-middle class population of close to six lakhs in the urban centres of Haryana in the next five years period," he said.
The size of apartments to be constructed under this policy would be in the range of 28sqm to 60 sqm carpet area.
The maximum allotment rate for the apartment units approved under such projects would be Rs 4,000 per sq ft of carpet area in the development plans of Gurgaon, Fairdabad, Panchkula and Pinjore-Kalka, Rs 3,600 per sq ft in the development plans of other high and medium potential towns and Rs 3,000 per sq ft in the remaining low potential towns.

As a matter of security against any possible delinquencies in completion of the project, the coloniser would be required to furnish bank guarantee against the total realisation from the project at the rate of 15 per cent for areas falling in the Development Plans of Gurgaon, Faridabad, Panchkula, Panchkula Extension and Pinjore-Kalka and at the rate of 10 per cent for rest of the towns, he said.