The recent policy initiative by the Haryana government to allow major reduction in the area norms for development of residential and industrial colonies will serve as a booster to housing in Haryana in general and the NCR towns of the state in particular.
The Department of Town and Country Planning, Haryana has announced major concessions in area norms for licenses for residential plotted colonies. The biggest beneficiary of this policy decision is Hyper Potential Zone (Gurugram) where the area required to develop a colony has been reduced from 100 acres to 25 acres.In High Potential Zone , the area requirement is now just 20 acres instead of 100 acres earlier. The new area norms for medium and low potential zones are 15 acres and 10 acres respectively against 100 acres prescribed earlier.
Similarly, the area requirement under Integrated Licensing Policy, the minimum area requirement has also been reduced to 15 acres, 10 acres,
5 acres and 2 acres respectively for hyper potential, high potential, medium potential and low potential zones.The new markings for group housing are 5 acres, 4 acres, 2 acres and 1 acre respectively for hyper potential, high potential, medium potential and low potential zones.
Says Pradeep Aggarwal, Chairman, Assocham National Council on Real Estate, Housing and Urban Affairs and Founder & Chairman of Signature Global, ” In the wake of high cost of land , the reduction in area norms will help developers especially medium and small developers to contribute in boosting housing . This , in the backdrop of hike in FAR, will give a new thrust to affordable housing, in order to realize ‘Housing for All’ Mission.