The new policy initiatives of the Haryana government permitting builders to build more housing units of smaller sizes in the same area has given a big boost to affordability. With the new norms in place, now the homebuyers can purchase a home of their choice with price tag of Rs. 4 lakh to Rs. 16 lakh in the national capital region (NCR) including Gurgaon.

According to official sources, the Haryana government has showers innumerable sops to builders including a relaxed density rule from 250 people per acre in Gurgaon to 600, and has also expanded the ground coverage area from 35 per cent to 50 per cent and the changes will help builders to build smaller and affordable homes. Under new norms, a plot of about 10 acre can accommodate about 1200 dwelling units as against the current 450 units.

The changed building by-laws will not only help launching new projects but also increase cash flow. The chances of minimum margins the developers would be encouraged to launch homes under the new scheme as there is a great demand for low cost housing in the NCR region, Chairman, Delhi based Reheja Developers, said adding that his company has decided to launch new projects in Gurgaon very shortly. In addition, the larger ground coverage means concrete structure could occupy larger areas on the ground thereby lowering construction cost as it is usually lower in the low rise buildings, he added.

Under the new norms, which will be open for developers until November 20, the low cost homes with a minimum carpet area of 25 sq mt stretching up to 350 sq ft will have a maximum price tag of Rs. 4 lakh in the entire state. Likewise dwelling units with a minimum area of 48 sq mtrs, approximately 700 sq ft carpet area, defined as affordable category by the government, will be available for Rs. 16 lakh in Gurgaon and Manesar, Rs. 14 lakh in Faridabad, Panchkula, Ballabhgarh and for Rs. 12.50 lakh in the rest of the state.