PM Awas Yojna: AP & Telangana Proposes Waiver of Stamp Duty & Other Charges for Affordable Housing

Latest Housing News, Schemes & Projects | By Rajkumar

Andhra Pradesh and Telangana state government plans an initiative action towards the development of affordable housing in their respective regions. The proposed step is in the respect the retraction of Stamp Duty for affordable housing projects.

The Draft Housing Policy of Andhra Pradesh presented to the Ministry of HUPA in which the state government has also proposed the waiver of land conversion fee, infrastructure development charges, building plan approval fee, registration fee and betterment charges to boost the affordable housing for EWS and LIG. Besides this the policy also provide relaxation in the Floor Area Ratio (FAR).

The similar measures has also proposed by the Telangana government to encourage private investments in affordable housing. The government has also proposed to twice the normal FAR besides 0.50% additional FAR for timely completion of such projects.

The states presumed single window clearance for approving housing project in 60 days. To construct housing for EWS and LIG, the states have proposed earmarking of 25% of government land available with urban local bodies.
It is also proposed In the housing policy of Telangana state government that the construction of houses/flats would be done by state agencies on rental-cum-ownership basis on the lines of Singapore Model by adopting new initiatives like ‘Equity Building’ and ‘Rent Cum Ownership’ basis, especially for low income segments.

Under this model, the house/flats allotted to EWS/LIG household will be transferred in the name of the individual after ensuring 100% equity over a period of 10-15 years. Such individuals will have the option to sell house/flat but only to the state government agency who will then offer the same to EWS/LIG households in waiting list. The investors from private sectors will also be encouraged to construct rental housing project with appropriate government support for the benefits of migrants.

The Ministry of HUPA will discuss with the state on the policy measures being taken by them to promote affordable housing. The ministry has also organized a nation workshop on ‘Model State Urban Housing and Habitat Policy: Decisive Roadmap for Achieving Housing for All’ on today 27 October 2015 in New Delhi. All actions and experience of other states in promoting affordable housing stock will be discussed at the proposed workshop for the benefits of other states stakeholders.

The Scheme Pradhan Mantri Awas Yojan (PMAY) launched in the June this year with a targeted construction of 2 crore houses in urban area by the year 2022 to ensure housing for all. Out of total housing stock which would be constructed under the scheme is meant for EWS and LIG households. Central government has proposed to extend assistance in the range of Rs.1.00 lakh to Rs.2.30 lakhs per each dwelling unit to be built under PMAY.

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