NCR competes with Delhi
Will you get a bigger and cheaper apartment if you invest in the rest of NCR and not in Delhi?
“We launched 25,000 flats ats in the 2014 scheme and 1,500 500 flats is not a very big number. er. Many flats are surrendered by allottees during every scheme,” e,” said Balwinder Kumar, vice ce chairman Delhi Development ent Authority.
“Most of the applicants had ad filled up forms without seeing g the apartments. Also, since the he booking amount was ₹ 1 lakh, h, we received a large number er of applications. Obviously, the he areas will take some time to develop fully. Most important, nt, since the clause preventing buyuyers from selling their units forfor five years has been imposed in the 2014 scheme, many people ple have opted to surrender the he apartments unless they need ed it for themselves,” Kumar adds. ds.
“We intend launching 40,000 000 houses in 2016 and have decided ded
Close on the heels of the Delhi Development Authority launching its Housing Scheme, 2014, many states came up with their own version of affordable housing. HT Estates spoke to a few developers who have launched such projects and found that the the apartment sizes are much bigger than the DDA units as these are based on carpet area and not super area. Also, the prices of these units is 50% to 80% less than that of DDA units. The Uttar Pradesh government has
launched its affordable housing policy that seeks to incentivise developers. It offers exemptions in external development charges that vary from 10% to 20%, depending on the location. The government is also offering incentives such as faster clearance system, low conversion charges ( from agricultural land to residential land) etc.
The two main ‘ restrictions’ in the policy are on unit size and price. There are three categories on offer – 21-27 sq m oof carpet area and two type types of LIG – LIG A (28 sq m to 40 sq m) and LIG B (41 sq m to 60 sq m). Restrictions on pricepric mean a developer cannotnot sell the unit for more than ₹ 3,0003,0 per sq ft in NCR, not moremor than ₹ 2,800 per sq ft in the mmetros and not more than ₹ 2,5002,5 per sq ft in small cities.