S+4: NCR builders eyeing Karnal for investment

Parveen Arora

Karnal, July 5

The recommendation by a special committee formed by the Department of Town and Country Planning for a 12-m road along stilt-plus-four (S+4) buildings has piqued the interest of NCR builders in Sectors 32 and 33 of Karnal. The realty market is expecting a jump as builders are now making a beeline for these sectors. The prices of plots in these sectors are currently between Rs 80,000 and Rs 1.25 lakh per sq yard.

Plot owners and dealers are now hopeful that the entry of builders will increase the rates, which are already on the higher side.

As per sources, the committee recommended S+4 floors on residential plots of existing urban sectors, colonies and areas with at least 12-m-wide roads. Sector 32 is the lone sector with roads that are 12 and 24 m wide, while Sector 33 has five roads with 18-m width. There are around 2,450 plots in Sector 32 and 1,600 in Sector 33. These are 30 to 40 per cent and 10 to 15 per cent developed, respectively. So far, as many as 102 building plans for S+4 or G+3 houses have been approved in HSVP Urban Estates and 64 in licensed colonies, as per available data.

“Both the sectors fall under the new recommendations. Several builders based in Delhi, Gurugram and Panchkula have approached dealers and plot owners for the purchase of plots here. We have witnessed a boom in prices in both the sectors in the past one year,” said Nitin Lakhanpal, president of the property dealers’ association.

However, residents consider S+4 floors as a burden on the infrastructure which was designed years back. DTP Om Parkash said the committee had submitted its report, but they were yet to receive any communication from the government.