Affordable Homes

Affordable Homes

Haryana Government is now focusing on the lower and middle segments of the society and trying to make homes affordable for them by fixing the home prices.

As per the government, no builder is now allowed to sell affordable homes at a rate of more than Rs. 4,000 per square foot in Faridabad, Panchkula and Gurgaon, which are the high potential zones. In the medium potential zone such as Jhajjar, Mahendargarh and Rewari, the rates have been set at Rs. 3,600 per square foot.

A source from the Town and Country Planning department revealed that 34 licenses have been granted by the Haryana state government till now for affordable homes specifically in the Gurgaon circle, with 2 in Rewari, 9 in Sohna and 23 in the Gurgaon city.

Nearly, 20,000 homes are expected to be built under the affordable housing projects as 23 licenses have been granted in the Gurgaon city.

About 46 affordable projects have been approved all across Haryana, with 2 in Panchkula, 2 projects in Rohtak circle and 2 in Panchkula.

Since the house aspirants are exponentially higher than the affordable homes planned and sanctioned by the government, the flats will be allotted under the lucky draw system.

Typically, a 2–BHK flat in Sector -69, Gurgaon should cost somewhere between Rs. 18.66 lakh – Rs. 19.50 lakh and a 1-BHK flat would cost somewhere around Rs. 15.69 lakh p.a.

With the properties now becoming affordable, the middle class and lower middle class strata of the society can also plan to buy a house in a location like Gurgaon. The stand taken by the government is truly beneficial for the economically weaker section of the society.

Source: NDTV Profit