Pvt investment to promote affordable housing | india | Hindustan Times
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Pvt investment to promote affordable housing

india Updated: Jun 27, 2012 02:15 IST
Peeyush Khandelwal

The Ghaziabad Development Authority (GDA) has decided to dole out sops to private players for the construction of affordable housing projects in the city.

The GDA has prepared a policy and sent it for the state government’s approval. Revealing major outlines, GDA Vice-Chairman Santosh Kumar Yadav said various exemptions have been provided in the policy to the private players.

GDA has proposed that no external development and city development charges will be levied on such projects if the private developer opts for building affordable houses in the city.

Further, the conversion charges on land from agriculture to residential will be waived for such projects. The authority has also decided to waive off even the conversion process which takes a considerable time to get finalised.

The GDA has also proposed that the taxes levied on the construction material will also attract complete waiver from the state government. Also, the stamp duty charges will only be from R10 to R25 for registries.

Currently, anything between 10% and 12% of the cost of the house is charged as the registry amount.