Haryana Cabinet Revamps Affordable Housing Rates: A Boost for Group Housing Projects
The Haryana Cabinet has amended the Affordable Housing Policy-2013, raising apartment unit allotment rates by 10-12%. This decision is aimed at catering to increased project costs and supporting developers. Additionally, a new policy for mixed land use zones has been approved, permitting various uses without specific percentage caps.
- Country:
- India
In a significant policy shift, the Haryana Cabinet has approved amendments to the Affordable Housing Policy-2013, lifting the allotment rates for apartment units by an average of 10-12%. The move comes in response to appeals from industry bodies, addressing increased costs associated with land, materials, and labor.
Under the leadership of Chief Minister Nayab Singh Saini, the cabinet recognized the need to make affordable housing projects financially viable for developers. The initiative aims to benefit targeted beneficiaries by encouraging the expansion of affordable group housing projects across Haryana.
In addition to this housing policy update, the cabinet sanctioned a new policy concerning mixed land use, allowing residential, commercial, and institutional uses in designated zones without percentage restrictions. This policy seeks to streamline the application process for various projects awaiting approval.
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