The state authorities’ “Punjab Affordable Housing Policy 2018” has failed to gain favor with economically weaker, lower, and decrease-middle class human beings due to bureaucratic apathy, liquidity crunch, procedural delays in granting approvals, and the excessive fee of taxes.
While the Housing and Urban Development Department claims to have approved a dozen low-priced housing tasks within the kingdom, not a unmarried, less costly housing task has been sanctioned by the Greater Ludhiana Area Development Authority (GLADA) even after 15 months of the policy being notified in March 2018.
“It (the policy) is a trifling document and does not use a vision or intention to provide cheap housing. There is a dire need to revise the coverage from the buyers’ angle,” says GS Lamba, a developer and trendy secretary of the Punjab Colonisers and Property Dealers Association.
Lamba became of the view that linkage of 5 in keeping with cent of the general area of the colony for the EWS became a big deterrent, even as excessive rates for an alternate of land use (CLU), external development expenses (EDC), and procedural hassles created by bureaucrats derailed the policy.
Another city-based belongings developer, Gulshan Kumar of GK Group, asserted that each realtor and customer had been reluctant to avail of the centrally-backed credit-related subsidy scheme (CLSS) with a subsidy of Rs 2. Sixty-seven lakh in keeping with the housing unit. He said high kingdom and central taxes, stamp duty, development costs, CLU fees, and infrastructure development cess neutralized the subsidy component.
Difficulties in securing finance from banks and housing finance organizations were referred to as some other stumbling block in the low-priced housing policy. As the scheme targets the EWS and LIG families, the documentation required to avail finance has been a large venture, stated to the realtors.
Lamba and Gulshan Kumar were confident that unless relaxation is provided within the most permissible location of the colony (for lower-priced housing), mandatory reservation for the EWS homes, discount in development costs, and the CLU and license fee eliminated, the housing scheme for the urban poor could be rendered vain.
