86 realtors inclusing Emaar MGF, DLF show interest for Haryana affordable housing project
Sep 13, 2013
Source : The Economic Times


CHANDIGARH: As many as 86 real estate companies, including DLF, Emaar MGF, Raheja Developers have shown interest in developing Haryana government's most ambitious affordable housing project in the state.

Haryana's Town and Country Planning Department has received licence applications from real estate developers for setting up affordable houses for which a policy was announced by Bhupinder Singh Hooda led state government last month, official sources said here.

Maximum number of applications for licenses has come for setting up houses in Gurgaon city at 50, followed by Sohna at 14, Faridabad at 10 while rest are for Jhajjar, Palwal, Rewari, Karnal and Nilokheri.

Among companies which have submitted license applications, prominent real estate groups are DLF LtdBSE 3.02 % and Emaar MGF, Essel Housing at Gurgaon, SRS Hightech projects at Faridabad, CHD Developers at Karnal and Sohna at Raheja Developers, they said.

In a bid to ensure affordable houses in urban areas, Haryana cabinet approved an affordable housing policy 2013 last month.

Under this policy, the state government envisaged to make available 1.25 lakh affordable dwelling units having carpet area of about 500 sq ft each in the urban centres of Haryana, which are constructed through the capital investment of private sector within a period of next five years.

The maximum allotment rate for the apartment units approved under such projects has been kept at Rs 4,000 per sq ft of carpet area in the development plans of Gurgaon, Fairdabad, Panchkula and Pinjore-Kalka, Rs 3,600 per sq ft in the development plans of other high and medium potential towns and Rs 3,000 per sq ft in the remaining low potential towns.

As security against any possible delinquencies in completion of the project, the developers under this policy would be required to furnish bank guarantee against the total realisation from the project at the rate of 15 per cent for areas falling in the development plans of Gurgaon, Faridabad, Panchkula, Panchkula Extension and Pinjore-Kalka and at the rate of 10 per cent for rest of the towns.


Latest Realty News

23 properties not paying land lease charges
Aug 24, 2013
LUDHIANA: BL Kapoor Hospital at Matarani Chowk is not the only property under the scanner for not paying charges of land on lease. Out of the 23 properties mentioned in the MC list, files of about seven properties are missing, with the MC lagging behind in collecting charges from them.
Owners of 42k illegal houses told to pay up
Jul 17, 2013
LUDHIANA: The new policy of the Punjab government to regularize illegal colonies in the state has triggered a debate among residents and the municipal corporation. Residents are confused about being asked to get their properties registered after so long.
CII: Emerging investment hotspots
Jun 25, 2013
DELHI: India has its own unique and integral complexities and business is not an exception to it. Corporations strive for increased efficiency and productivity amidst these complexities. Real estate is an integral ingredient in the formation and growth of all businesses and steadily maturing into a big business itself.
Buying a property just got a bit more cumbersome
Jun 25, 2013
MUMBAI: A common saying goes, to know "stress", organize a person's marriage or endeavor to build a house. Consider the various factors which affect the decision on the purchase or building of a house, they range from vastu, legal documentation, anticipated appreciation in value and maybe even the whims and fancies of the relatives. Clearly, factors which may cost a common man, seeking to obtain a roof over his head, many a nights sleep. Well, thanks to the Finance Act, 2013, the stress has been
Bangkok cheapest office location in Asia; Hong Kong most expensive
Jun 25, 2013
BANGKOK:Bangkok was the cheapest city for office rents in Asia this year, while Hong Kong was the most expensive, an international property consulting company said on Monday.
CREDAI bats for realty reforms with Girija Vyas
Jun 24, 2013
DELHI: Praising the Union Government’s efforts towards real estate reforms, realtors’ apex body Chairman Lalit Jain expressed the hope that the new Housing and Urban Poverty Alleviation Minister Ms. Girija Vyas will continue with the unfinished task of her predecessor Mr Ajay Maken.
How new real estate bill could reshape the realty ecosystem?
Jun 20, 2013
MUMBAI: 1) Project Registration When the Real Estate (Regulation and Development) Bill 2013 comes into effect, all projects will have to be registered with a real estate regulatory authority.
The Bill will be a boon for homebuyers
Jun 19, 2013
MUMBAI: The Real Estate Regulator Bill which was recently approved by the union cabinet, has been several years in the making now and hasn’t had smooth sailing from the start. Apart from inordinate delays, it faced much resistance from the real estate fraternity at initially who were afraid that this Bill would prove to be yet another regulatory bottleneck, rather than a regulation that would empower the industry and its homebuyers.
Road building revival offers rare hope for India infrastructure overhaul
Jun 18, 2013
MUMBAI/DELHI: K. Ramchand, managing director at one of India's biggest road builders, is doing something unusual to help dispel the gloom pervading much of the country's infrastructure sector today: bidding for new projects.
Realty Bill will make homes costlier, says Credai chief
Jun 18, 2013
MUMBAI: The proposed Real Estate Regulatory Bill is “welcome”, but it may make homes more expensive. Mandatory registration of property before advertising is likely to impact smaller players, says C. Shekar Reddy, National President, Confederation of Real Estate Developers Association of India (CREDAI). But pushing for amendments to the Bill is not his only issue. Staving off taxes charged on deemed profits (the differential amount that arises when the registration value of a property is higher

Latest Realty News Of State

Realty Talk's