GURUGRAM: The supply of affordable housing in Gurgaon, one of India's largest real estate markets, is expected to see a significcant boost, after the department of town and country planning (DTCP) invited fresh application for licences to build over 3 lakh affordable housing units.
Haryana amended its Affordable housing Policy 2013 in Octorber 2017, to extend an existing cap of 300 acre in Gurgaon district to 1,935 acre. Based on the earlier cap, DTCP had issued affordable housing licences over 331 acres, on which around 46,000 units are at different stages of completin, in sectors along Northern Peripheral Road(NPR), also known as Swarka expressway, and Southern Peripheral Road (SPR).
Gurgaon district is covered by three development plans, for Gurgaon, Sohna and Gwalpahari. The three plans have been amended thus - Gurgaon-Manesar Development Plan will now reserve 1,650 acre for affordable housing, while Gwalpahari will have 15 acre and Sohna 270 acre for the same. Based on this, sectors 1-115 of Gurgaon will eventually have around 297 lakh units of affordable flats, with a further 48,600 in Sohna and 2,70 in Gwalpahari.
Welcoming the move, Gaurav Mittal, MD, CHD Developers limited, said that this will increase supply of affordable housing and competition among developers. "Ultimately, this will benefit buyers," said Mittal, adding that with the increase in supply, buyers will have more choice. He said people who have land can now apply for new licences.
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