NCR com­petes with Delhi

Will you get a big­ger and cheaper apart­ment if you invest in the rest of NCR and not in Delhi?

HT Estates - - FRONT PAGE -

“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 see­ingg the apart­ments. Also, since the he book­ing amount was ₹ 1 lakh, h, we re­ceived a large num­berer 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 type­stype 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.

IL­LUS­TRA­TION: AB­HI­MANYU SINHA

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