The Haryana government plans to develop five new cities of 5,000 hectares each alongside two major expressways -- Kundli-Manesar-Palwal (KMP) and Kundli-Ghaziabad-Palwal (KGP) -- to boost industrial, commercial and housing activities in areas bordering the national capital, its Chief Minister Manohar Lal Khattar said Friday.
Addressing a real estate conference organised by realtors' body NAREDCO, Khattar said the state government would also reopen the licensing process for group housing projects under the affordable segment.
"We have prepared a draft plan to develop five big cities alongside KMP and KGP expressways covering 185 km. It's in pipeline and (corridor) is being considered," the chief minister said.
Each city would spread over a minimum area of 5,000 hectares and will be developed as industrial, economic and commercial corridor, Khattar said, adding that there would also be provision of housing, providing business opportunities for realty firms.
The chief minister said his government has completed four years on Friday and he would like to implement this plan before the end of his tenure.
Khattar said the state government has taken a number of initiatives during the last four years to boost the real estate sector and it has also announced affordable housing policy to help achieve the target of 'Housing For All' by 2022.
The chief minister promised developers that the government could make changes in the policies for the benefit of all stakeholders in this sector, including home buyers.
Khattar said the government would soon "open the window" for 60 days to get licences for group housing project under the affordable category.
The state would also extend the deadline for Transit Oriented Development (ToD) policy by three months. The ToD is a mixed-use residential and commercial area for maximising access to public transport and often incorporates features to encourage transit ridership. Developers get extra FAR (floor area ratio) under this policy.
Stating that the government has tried to streamline the real estate sector, Khattar said the Haryana has two authorities under the new real estate law RERA, of which one regulator is specifically for the IT city Gurugram.
The chief minister said the government has regularised 628 colonies at a very minimal fees.
For Gurugram, he said the government has sanctioned 50 new vehicles for police to do patrolling and maintain law and order.
Speaking on the occasion, NAREDCO Haryana President Praveen Jain said he appreciated the policies of the government for a better future of the state.
He also said "... the first time we got policies that were beneficial to buyers as well as builders. Till now, housing was the prerogative of rich people. The pace of infrastructure in the last five years in Gurugram have been exceptional."
Lalit Aggarwal, co-founder and Joint Managing Director, Signature Global, said, "We welcome the Haryana government's decision of introducing the project clearance window of Group Housing project for 2 months from next week. The fastened approval process would encourage the developers to complete the project on time.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)