AN APARTMENT in Gurgaon could soon be within reach for the not-so-rich. Haryana may allow the construction of more flats per unit area of land in certain areas, leading to a lowering of prices. A small one or two-bedroom home could then cost between Rs 12.5 lakh and Rs 25 lakh.
Current limits set to the floor area ratio (ratio of the total floor area of a building to the area of the plot) and the prescribed population density (PPD) by the Gurgaon Master Plan 2021, roughly translate into 50-55 apartments of 1,750-2,000 sq foot area in an acre of land. Each of these apartments cost upwards of Rs 50-60 lakh.
But now, the government is "seriously considering" a proposal to increase PPD and FAR in select cases, M.L. Tayal, principal secretary to the chief minister, told Hindustan Times.
"A number of developers have suggested low-cost housing models and have proposed to increase FAR and population density. This will enable them to construct more apartments per acre, "Tayal said. He added that the government was looking at aspects like the load on civic infrastructure as well. Source HT Estate |
Special Economic Zones (SEZs). despite opposition from various quarters, are emerging as the engines of growth in India. According to a detailed report,prepared by global real estate consultancy firm, DTZ, the estimated supply of office space over the next 2-3 years indicates that new office-space supply in SEZs in certain regions is expected to outstrip fresh supply in no-SEZ zones.
The Special economic zones is nothing but a kind of export processing area, which is developed by private developers, along with infrastructure. The rationale behind India's SEZ policy, which has gained momentum in recent years, is to provide export-driven inclusive growth. The promotion is this model is likely to help overcome the acute shortage of office space that industry faces at present.
In order to sustain the growth momentum gained over the last few years, policy makers in India consider it imperative to provide infrastructure to enterprises. The report says that this is especially true for Indian companies that are looking for a global imprint, with substantial push into overseas export markets. It says since establishing world-clash industrial infrastructure throughout India will be an extremely expensive proposition, the Indian government encouraged SEZs as the next best solution aimed at building pockets of infrastructure.
By offering incentives to private developers, government is attracting much required investment for setting up such zones, thereby easing the financial burden for a task that has traditionally been a responsibility of the state. Source HT Estate |