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Punjab introduces policy to facilitate affordable housing

 Chandigarh, July 26: To make houses available on affordable prices to the lower and lower middle income families in the state, Punjab Housing and Urban Development Department has notified affordable colony policy. The policy has been formulated to encourage the promoters to opt for small size residential plotted and flatted development, so that affordable plots and houses could be made available to the weaker strata of the society.

 

Divulging the details, Punjab Housing and Urban Development Minister  Sukhbinder Singh Sarkaria said that the Punjab Government has formulated the affordable colony policy, he added. Moreover, in wake of economic crisis due to the Corona pandemic, the need to provide affordable housing to the lower and lower middle income group families had become all the most important.

 

Notably, the affordable colony policy is applicable to all the areas developed or approved by the Department of Housing and Urban Development, and to residential and mixed land use zones in master plans as well as up to an area of three kms around municipal limit situated outside master plan.

 

 

 Talking about various conditions laid for developing an affordable colony, the minister said that a minimum of 5 acres are required for plotted/mixed plotted colony, while for the purpose of developing group housing exclusively, 2 acres of area is required. For areas under SAS Nagar Master Plan, minimum 25 acres and10 acres and for New Chandigarh Master Plan minimum 100 acres and 5 acres are required respectively.

 

He said , several incentives have been offered in the policy for the developers, who would volunteer to set up an affordable colony. For instance, the developers will be free to sell the EWS units without restrictions of Punjab Apartment & Property Regulation Act-1995.

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