A home in Gurgaon may get more affordable
Haryana may allow the construction of more flats per unit area of land in certain areas, leading to a lowering of prices, reports Sanjeev K Ahuja.Updated: May 20, 2008, 01:42 IST
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, ML 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.
Navin M Raheja of Raheja Developers said: “We have asked the government to increase the population density from 50 apartments to 200 apartments per acre. It will enable us to construct 500-sq foot, one-bedroom units that will cost Rs 12.5 lakh at the average market rate of Rs 2,500 per sq ft.”
Dharmendra Bhandari of Bestech Group said: “It is currently not possible to buy an apartment for less than Rs 50 lakh in Gurgaon. A large number of people who dream of owning a house can’t find one or two-bedroom apartments in Gurgaon. They will all benefit.”