The Punjab government will notify a new policy to attract investment in the realty sector and the new housing policy will be in the public domain by December 15.
"The new policy of the housing sector is aimed at making investment hassle-free besides ensuring time-bound clearances and offering incentives in the floor area ratio," deputy chief minister Sukhbir Singh Badal told reporters after laying the foundation stone of a 10-storeyed building here on Thursday that would be completed in 48 hours, using the latest factory fabricated technology.
"Punjab would like to encourage high-rise buildings. With the limited availability of land, the only answer is going vertical and the new policy will offer incentives to high-rise buildings," he said.
Announcing the construction of two lakh houses for the economically weaker section (EWS) within a year, Badal directed the Punjab Urban Development Authority (PUDA) to use the new building technology in such houses. "I have asked PUDA to study the suitability and economy of new technology for mass housing and submit a report in this regard," said Badal.
In response to a query on Punjab's security preparedness, he said, "There is no scope for the revival of terrorism. We are prepared. Punjab Police is vigilant enough."