With Haryana government increasing rates under the affordable housing policy, flats in Gurgaon and Haryana have become costlier. The Haryana government has increased the rate from Rs 4200 per sq ft to Rs 5000 per sq ft under the Affordable Housing Policy. Apart from this, the rates of balcony have been increased, according to a report by Navbharat Times.
The earlier rates for balcony was Rs 1000 per sq ft. This has now been increased to Rs 1200 per sq ft. Even if the size of the balcony is more than 100 square feet, the real estate company cannot charge more than Rs 1.2 lakh.
A notification in this regard was issued on Thursday by Additional Chief Secretary of the Town and Country Planning Department. According to the notification, the increased rates were approved in the meeting of the council of ministers on July 7. Apart from Gurgaon and Faridabad, rates have increased by Rs 800 per sq ft in Panchkula, Pinjore and Kalka. The rates in Sohna was Rs 3800 sq ft which has been increased to Rs 4500 per sq ft.
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These rates will remain in high and medium zones. Rates have been fixed at Rs 3800 per sq ft in Low Potential Town. Talking about Gurgaon and Faridabad, earlier a 500 sq ft flat used to cost Rs 21 lakh, now buyers will have to pay Rs 25 lakh for the same flat.
“There was an urgent need to increase the rates, as real estate companies were shying away from the affordable housing policy due to costlier land rates. These flats are the need of the real estate market at present, but the Haryana government should not have increased the rates so drastically. Along with this, the option of allotment letter has been wrongly inserted in this policy amendment, because those who have applied in the current draw, their budget will be shaken. These rates should have been implemented in new projects,” said Real Estate expert Pradeep Mishra to Navbharat Times.
According to the new amendments, if allotment letter of the flat has not been issued, the real estate companies can recover the amount from the flat applicants as per the new rate. This is being considered as a big blow to the applicants.
