Affordability gets more space in Haryana

    Affordable Housing
    In a significant development for the real estate sector, the Haryana cabinet has recently removed the cap on land for affordable housing and the latest amendment in the Affordable Housing Policy 2013, 15 acres of land in every sector will have to be earmarked for affordable housing projects across the state and has removed earlier cap in Gurgaon — 10 acres per sector, 300 acres in total. Developers in Gurgaon have long been asking for increase in land for affordable housing, on account of a huge demand and supply mismatch‘. The sources said that as of now, another 5 acres can be allotted in 70 sectors of Gurgaon. It‘s likely that in the next two years, developers will apply for 100-120 acres, and that the total land available for such projects could eventually cross 500 acres in Gurgaon only. Developers have hailed the state government‘s decision and said the move is more than what they had expected, and that it would help in realizing Prime Minister‘s dream of housing for all by 2022.
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