Developers of affordable housing under the ‘Mukhymantri Jan Awas Yojna’ will have more of the developed property on their disposal as government relaxes general conditions of the scheme. This though shall shrink the constructed public utility are for the occupants.
“In relaxation to the unified building bylaws clause, the developers of affordable housing scheme will have to dedicated one per cent of the total constructed area or 750 square meter of constructed property (whichever less) for development of community center,” said a senior urban development officer.
The unified building bylaws under the provisions for group housing set aside 5 per cent of the total developed property for public use of which 2 per cent or 1500 square meter (whichever less) is provisioned for development of community center and other facilities. Relaxation in the condition shall assure more sell able area for the developers. The decision for relaxation has come in line of incentives being announced by the government to promote construction of affordable houses under the scheme. A month earlier the urban development department had raised the cost ceiling by 10 per cent.
“Stagnancy in land prices and rise in construction cost has further made it difficult for the developers to venture towards affordable housing, thus various incentives are being sought to attract investors,” said an officer.
Even as the government announces of incentives for developers on cost of public utility area, the investors are less excited. Many of them feel disheartened over the treatment by officers of the local development bodies. Several of the developers have claimed of difficulty in acquiring the relaxations in floor area ratio granted to them.
Lack Of Interest
Several of the affordable housing projects under Mukhymantri Jan Awas Yojna scheme on public private partnership had to be rolled back due to lack of investor interest. New incentives are being announced as the urban development department makes fresh attempts to seek investors.
