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Affordable Housing development knocks down to new sectors
The recent amendment of Affordable housing Policy 2013 is out with an estimate of an increase in over 500 acres of land. Earlier there was 10 acres per sector, a total of 300 acres in
The recent amendment of Affordable housing Policy 2013 is out with an estimate of an increase in over 500 acres of land. Earlier there was 10 acres per sector, a total of 300 acres in Gurgaon, now the amount of new land that could be available for affordable housing limit per sector has increased to 15 acres which could rise up to 810 acres of land. This amendment has also decreased the minimum land criteria from 5 acres per sector to 4 acres. Keeping an eye on this statistics, 72,500 new units are expected to be added soon to the affordable housing category in Gurgaon, whose numbers currently stand just about 35,000, at different stages of construction.
As per the DTCP notification, a relaxation of 20% on the minimum area of 5 acres will be considered in case a portion of 15 acres in a sector marked for the category is found to be redundant due to grant of first and second license which means even with 4 acres of land, one can apply for license.
Managing Director of BDI Group, Ssumit Berry, said the government has also decreased the minimum area per sector from 5 acres to 4 acres. “This will help in better utilization of land earmarked for affordable housing in residential sectors,” he said, adding it will benefit the sector and public at large.
According to officials, Gurgaon’s existing sectors (1-58) barely have any land available, so this policy will mostly be applicable to the new sector that is (59-115). “There will be a significant increase in supply,” said the official, adding many more developers will now get the license for affordable housing.
National Real Estate development Council president Praveen Jain welcomed the move and added, “It’ll increase the inventory of affordable houses in the city and help in meeting the rising demand, “said Jain. He also expressed his concern over slow infrastructure development in new sectors. “Only making policy changes and giving licenses to some more developers will not solve the problem. People also need roads, power, and civic amenities," said Jain, adding that more affordable houses will be of no use without supporting infrastructure.
