Affordable Housing – Win-Win for all

The Govt. of India, Ministry of Housing and Poverty alleviation with the aim to create affordable housing stock encouraged private players to enter this segment as PPP Model (Public Private Partnership) recognizing that mere efforts of government will not be sufficient to address the housing shortage aspect of rapid growing cities

The AHP (Affordable Housing Project) is driven by any of the following modes:-

  • Projects on Govt. land(State/UT’s/Central Govt.) executed by Govt. itself
  • Projects on land provided by Govt. but executed by Private players by providing suitable facilities/incentives to use its financial and technical resources
  • Projects on land of Private developers executed solely by them where Govt. to offer Incentives/facilities like FAR/FSI Use and other concessions to make the product available to masses classified as “Affordable”

To make the project commercially viable for Pvt. Player’s mix of EWS/LIG/MIG/HIG & Commercial spaces are allowed with cross subsidy on premium earned for MIG/HIG/Commercial units

With these mechanisms in place the Govt. has ensured to use low cost construction technologies, clearances for the project within 60 days to avoid any delays, nominal stamp duty for EWS/LIG Units

This project once awarded will be subjected to Supervision for Quality by 3rd party agency appointed by State/UT and becomes the basis of release of Incentives

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The booking is subjected to Allotment on a draw based system only. Successful participant to complete the payments in 3 years in equal tranches and post-handover can move in to stay or may create a rental Inventory

This initiative is purely aimed to provide Housing for all by 2022 and aims to build a stock for end users or migrants looking to rent out and is a complete win-win for all end users as well as Developer.

So far in NCR region, Haryana has taken lead and more than 5 affordable projects already launched and sold; Uttar Pradesh is also following the trend starting with Lucknow, Meerut and Ghaziabad

Right time to make the best of this Initiative by Central Govt. and Safety Invest to build your nest

(With Inputs from Affordable Housing in Partnership, Sept 13-Guidelines from Ministry of Housing and Poverty Alleviation

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