After 6-year hiatus, Punjab govt to allot land to housing societies again
The Punjab government’s housing department is set to relaunch its scheme of allotting land to cooperative housing societies for the construction of multi-storey apartments. The move comes six years after the scheme was virtually closed in 2010.punjab Updated: Jun 29, 2016 10:36 IST
The Punjab government’s housing department is set to relaunch its scheme of allotting land to cooperative housing societies for the construction of multi-storey apartments. The move comes six years after the scheme was virtually closed in 2010.
Principal secretary housing Vishwajeet Khanna said the department will advertise the scheme soon. He said group of people who have formed a society and registered it with the Punjab registrar of cooperatives could apply for land.
Till 2010, land was allotted at subsidised rates to housing societies and one of the reasons for government closing the scheme was allegations of favouritism in allotting land. However, this time, land will be allotted at the rate already fixed by the urban development authorities for housing plots.
THE SCHEME AFTER RE-LAUNCH
The scheme has been formulated in a balanced manner keeping interests of the urban authorities and the housing societies in mind. Khanna said, “For example, if an urban authority sells a 500 square yards plot at a rate of Rs 20,000 per square yard, the larger piece of land will also be allotted at the same rate. Since the bigger chunk will be used for multi-storey houses, it will cost the society members much less than what they otherwise will pay for a plot or even a flat of the same size.”
The allotment rates will be different for different urban development authorities, depending on the availability of land. “We are shortlisting pockets of land that will be made available for housing societies and the locations will be cited in the advertisement,” said Khanna.
The housing department also intends to boost the dull realty market with the move. Its auctions of residential and commercial sites across the state through the urban development authorities have been receiving a lukewarm response for several years. At many places, private developers are offering plots and flats at rates lower than the government rates.
Ever since the land allotment scheme was closed, cooperative housing societies have been buying land on their own land.
The construction of the colony to be developed by the cooperative society would be regulated by the municipal body or urban development authority concerned.
First Published: Jun 29, 2016 10:34 IST