Page 19 - Banking Finance January 2018

HOUSING

HOUSING

NEWS
NEWS
NEWS
NEWS
NEWS

Government to build 10 Policy for affordable housing, rental accommodation

million houses for rural soon
poor by Dec 2018 For the benefit of scores of students and elderly seeking affordable rental ac-
commodation in the state, Punjab government is
working on twin polices of affordable housing site
and rental accommodations across the state. As
part of the concept for affordable housing, the
thrust will be on making smaller plots beginning
with 100 square feet available to general public.
Apart from the state's own area development au-
thorities, private developers will also be given spe-
cial incentives to expedite such projects.
The Ministry of Rural Development
is planning to complete the con- The development authorities will provide water supply, smart water meters,
promotion of solar power, use of tertiary treated water, rain water harvesting,
struction of 10 million houses for the
rural poor by December 2018-three and green cover will be ensured. Additional chief secretary housing and urban
months in advance of the March development Vini Mahajan said, "The policies are under consideration and will
be finalised before March 31. "In case of affordable rental housing, the state
2019 deadline set by the National
government's role would be to come up with an enabling policy which can then
Democratic Alliance government, a
government official said. be taken forward by the private developers. The other policy will focus on pro-
viding house to all with basic amenities in urban areas."
More than five million houses are to
be completed by March 2018, the High Court upholds constitutional validity of RERA
official cited above said, adding that
one million houses had been com- The Bombay High Court held the constitutional validity of the Real Estate( Regu-
pleted and another three million were lation and Development) Act(RERA), observing it was
in various stages of construction. crucial to protect the interests of flat buyers and de-
velop incomplete projects. The court also addressed the
Some 5.6 million people were sanc- issue of implementation of the act. It allowed a lee way
tioned houses under the programme for developers by permitting the state-level R ERA Au-
with the government using data thority and the Appellate Tribunal to consider delay son
from the 2011Socio-Economic Caste a case-to-case basis, and not to cancel such projects or
Census and gram sabha (village coun- developers' registration in cases where the delay was
cil) records, he said. caused due to"exceptional and compelling circumstances ."

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