3 Lakh Houses by 2016 in UP Under Affordable Housing Scheme

Latest Housing News, Schemes & Projects | By Rajkumar

Uttar Pradesh Government has announced a new affordable housing scheme named as “Samajwadi Awas Yojna” in the state. The government aims to construct about 3 lakh affordable houses by 2016 for middle income group (MIG) in the state.

The scheme has been launched to cater the affordable housing needs of middle income group of the society. According to the decided policy of the scheme, the constructed homes will cost anything between Rs 15 Lakh to Rs 30 Lakh. The land use conversion under the policy will be done free of cost.

The UP government along with the launch of this affordable housing scheme has also decided to fix the ceiling rates of apartments across the state. According to the new policy, the ceiling rates per square foot in the national capital region will not exceed Rs 3000/-, Rs 2,800/- in metro cities and Rs. 2,500/- in all other cities.

The UP government will also offer discounts on external development charges and land use conversion charges to attract more developers to build the houses. The new affordable housing policy of UP government will allow developers to build maximum 450 housing units per hectare with maximum 2.5 floor area ratio.

The policy also makes it mandatory to provide green space, parks, roads, community halls, and other modern lifestyle facilities and amenities in the project. Development of footpaths and cycling tracks for pedestrians and cyclists has also been encouraged in the policy.

Other than the Affordable Housing Policy, the UP government also announced 3 new housing policies including Free-hold and Redevelopment policy for the projects spanning over 1 hectare. Under this policy the developers will have to pay land use conversion charges for 45% the land where the developer aims to build housing units. 30% will be allocated for building parks, green spaces, roads and other infrastructures while 25% land will belong to the respective authority.

The government has also decreased the minimum required limit of land fro a high-tech project from 300 acres to 200 acres to ensure easy acquisition of land, accumulation of funds and rapid construction and delivery of houses. The state government estimates that about 24 Lakh housing LIG and MIG units will be required in the state in the 12th five year plan out of which about 3.5 lakh will be built by 2016.

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