Property Rate Hike in Gurgaon-Faridabad: Buying a house has now become expensive in Gurgaon and Faridabad of Haryana, adjacent to Delhi. The Haryana government has increased the rates of flats per square feet under the Affordable Housing Policy. In Gurgaon, Faridabad, Panchkula, Pinjore and Kalka, the rates have been increased from Rs 4,200 per sq ft to Rs 5,000 per sq ft.
Buying flats in Gurgaon and Faridabad has become expensive. The Haryana government has increased the rate from Rs 4200 per sq ft to Rs 5000 per sq ft under the Affordable Housing Policy. Apart from this, the rates of balcony have been increased. Earlier this rate was Rs 1000 per sq ft, which has now been increased to Rs 1200 per sq ft. Even if the size of the balcony is more than 100 square feet, the real estate company cannot charge more than Rs 1.2 lakh.
On Thursday, the Additional Chief Secretary of the Town and Country Planning Department issued a notification in this regard. According to this, in the meeting of the Council of Ministers on July 7, approval was given to increase the rates. Apart from Gurgaon and Faridabad, the rate has increased by Rs 800 per sq ft in Panchkula, Pinjore and Kalka.
The rate in Sohna was Rs 3800 per sq ft, which has increased to Rs 4500 per sq ft. These rates will remain in high and medium zones. Rates have been fixed at Rs 3800 per sq ft in Low Potential Town. Talking about Gurgaon and Faridabad, earlier a 500 sq ft flat used to cost Rs 21 lakh, now he will have to pay Rs 25 lakh.
There was an urgent need to increase the rates, as the real estate companies were shying away from the affordable housing policy due to costlier land rates. These flats are the need of the real estate market at present, but the Haryana government should not have increased the rates so drastically. Along with this, the option of allotment letter has been wrongly inserted in this policy amendment, because those who have applied in the current draw, their budget will be shaken. These rates should have been implemented in new projects.
New rates applicable for those who did not receive allotment letter
In this amendment in the policy, the Haryana government has also put a condition, according to which, if the allotment letter of the flats has not been issued, the real estate companies can recover the amount from the flats applicants as per the new rates. This is a big blow for the applicants. According to this, if the size of the flat is 500 square feet, then he will have to pay Rs 4 lakh more in lieu of the carpet area. 20000 rupees will have to be given extra for the balcony. Recently the draw of affordable housing flats in Sector 70, 81, 99, 103, 104 has been held in Gurgaon. The draw of Sector 87 of Faridabad has taken place.
