Housing Sector to Come up with 8,000 flats in NCR

July 17, 2009
In a move expected to give a big push to the housing sector in Gurgaon and Faridabad, the Haryana Housing Board is in the process of inviting expressions of interest for building 8,000 flats in these cities and some other places in the national capital region areas. This is in addition to the 38,000 housing units, majority of them in NCR, planned in the next two years. Under the latest project, the state will enter into an agreement with real estate developers to provide affordable housing to middle and lower middle class under the public private partnership mode.
“Since we do not have land in Faridabad and Gurgaon, we will be joining hands with private colonizers whose projects have been stuck due to the (economic) slowdown. We’ll prefer those who have the licence, and then those who have enough land,'’ said S P Gupta, chief administrator of the housing board. The announcement follows chief minister Bhupinder Singh Hooda’s assurance to developers that steps will be taken to counter the slump in the real estate market. It will also fulfil his commitment of providing cheap housing to locals, especially those in NCR cities of Gurgaon and Faridabad. Among the other areas selected for the project are Bawal (in Rewari district close to Gurgaon), Badhi (Sonepat) and Karnal.
Officials claim that around 828 units would come up at Badhi, a township to the north of Delhi. While the board is still working on the number of flats to be offered in Gurgaon and Faridabad, it plans to build 400 units for the lower middle class in Bawal. The housing board will share 50% cost of the project and forego profits. “We’ll also have some guidelines as far as profits of joint venture groups are concerned,'’ Gupta added. Earlier, the state had announced that as many as 38,000 houses would be built for all sections of society by 2011. Though the exact number of houses to be constructed close to Delhi hasn’t been worked out, it’s believed that most of these units will be in NCR where the demand is the highest.
Ref:http://www.indianrealtynews.com/real-estate-india/housing-sector-to-come-up-with-8000-flats-in-ncr.html