Haryana alters policy, 'affordable housing' set to cost 20% more

Chandigarh, July 7

The Haryana Cabinet today approved amendments to the Affordable Housing Policy-2013. As per the amendments, the allotment rates for apartments have been increased on an average by 20 per cent.

Accordingly, the rate prescribed for the “hyper and high potential zone” (Gurugram, Faridabad, Panchkula and Pinjore-Kalka) has been increased by Rs 800 per sq ft to Rs 5,000 on carpet area. The previous rate was Rs 4,200. For “high and medium potential towns”, the rate has been hiked by Rs 700 per sq ft on carpet area. This has been done to encourage colonisers to come up with new projects. For “low potential towns”, the rate has been hiked by Rs 600 per sq ft. The rates will be applicable to all builders concerned who are yet to make allotments.

Hiked by Rs 200, the new balcony rate will be Rs 1,200 per sq ft. This has been done to help developers recover the required construction cost through balconies.