Govt offers concessions for affordable housing projects

Chandigarh, March 4

In a bid to make available houses at affordable prices to the lower income groups in the state, the Department of Housing and Urban Development has offered major concessions for developing colonies that will offer affordable houses to the needy. For this purpose the department has come up with an Affordable Colony Policy-2018.

Additional Chief Secretary, Housing, Urban Development and Revenue, Vini Mahajan has said the policy proposed to offer higher density and floor area ratio (FAR) to promoters who would show interest in developing an affordable colony besides rebate in rates pertaining to CLU, EDC and LF has also been proposed in these projects so that maximum number of flats could be constructed over an acre and the same could be made available to the lower income groups at affordable price.

A minimum of 5 acres is required for setting up an affordable colony in all master plans of the state except Mohali and New Chandigarh. “The policy will be finalised after receiving suggestions from the public,” she added. — TNS