Introduction Affordable Housing Policy

Affordable Housing Policy is a comprehensive housing policy introduced by the Government of Haryana under section 9A of the Haryana Development and Regulation of Urban Areas Act, 1975.

This policy is introduced by the Haryana Government in order to promote ‘Group Housing Projects’ that are of ‘predefined sizes’, available at ‘predefined rates’ and completed within a ‘targeted time span’ in urban, developed areas of the state so as to make these affordable houses available to the deserving candidates.

The policy is headed by the Director General, Town and Country Planning Haryana with a view of developing affordable houses in urban areas of the state of Haryana including Gurgaon, Sohna, Faridabad.

An important factor that needs to be kept in mind regarding the policy is that all the projects that fall under the Affordable Housing Policy should be completed within a stipulated time frame of 4 years counted from the date of approval of the building plan or the issue of the environment clearance, whichever out of these two falls later. So, whichever would be the decided date that would be known as the ‘date of commencement of Project’ and it cannot be renewed after the stipulated time frame of 4 years which remains pre-decided.

Another crucial factor that is to be kept under consideration is that all the projects that fall under the category of Affordable Housing Policy and granted a license for the same cannot be converted into a normal project under any circumstances whether or not it falls under the 20% residential sector area limit as prescribed under the policy.

These affordable houses are categorized under a price value of below 30 lakhs that are located at an upscale area of Gurgaon equipped with all the premium amenities to allow a lavish life at affordable prices to the middle income group.

Thus, the Affordable Housing Policy is a very positive initiative taken by the Government that has been fruitfully developing group housing projects at economical prices at developed areas of Haryana since 2013.

Amenities In Affordable Housing Projects

The Haryana Government has taken special care to include some important amenities as a part of Affordable Housing Projects including –

•   One built-up community hall of minimum 1000 sq ft.
•   One built-up Anganwadi-cum crèche of minimum 1000 sq ft.
•   A dedicated car parking for every flat owner.

Eligibility Criteria

As far as the eligibility criteria under the affordable housing policy is concerned, anybody can apply for these affordable housing units.

However, those who include their dependent spouse and/or children who do not own a house of their own are given first preference while allotting houses under the affordable housing policy.

Payment Plan

The affordable housing policy involves quite an easy and convenient beginning with the payment of 5% of the total sale price during the time of booking. The payment of the booking amount is then followed by the payment of 20% of the total sale price within 15 days of issuance of the allotment letter.

After these initial first two steps a fixed installment of 12.5% of the total sale price is to be paid at a regular interval of 6 months and the pattern is followed till the 36^th month of issuance of allotment letter. Thus the payment plan involves 6 equal installments at a regular gap of 6 months thereby making it extremely easy for the middle income group to pay for their homes in a burden-free and financially comfortable way.

S.no	Time of payment	Amount payable
1.	At the time of booking	5%
2.	Within 15 days of the letter of issuance	20%
3.	Within 6 months of the date of allotment	12.5%
4.	Within 12 months of the date of allotment	12.5%
5.	Within 18 months of the date of allotment	12.5%
6.	Within 24 months of the date of allotment	12.5%
7.	Within 30 months of the date of allotment	12.5%
8.	Within 36 months of the date of allotment	12.5%

Defined Area Under The Policy

The minimum and maximum area defined for the group housing projects under the affordable housing policy is 4 acres and 30 acres respectively.

Further, the estimated carpet area prescribed under the policy, therefore, ranges from 4000 sq/ft to 4200 sq/ft and the balcony area ranges from 500 sq/ft to 1000 sq/ft in size approximately where the carpet area defines the covered floor area within the four walls of the apartment.

Though the carpet area excludes the area covered by the walls and the balcony that is approved Free of FAR, it includes the area covered under kitchen, toilet, bathroom, store and area covered by built-in cupboards.

Thus, the affordable housing projects provided spacious affordable housing flats/apartments that are commodious and beautifully designed architectural masterpieces to provide a luxurious life to the middle class at budget prices.

Loan and subsidy Facility

A special feature under the affordable housing policy is the 90% loan facility allowed on affordable housing projects via major banks of the state including Punjab National Bank, HDFC and the like making it all the more easy for the buyers to buy a residential property in Gurgaon, Sohna and Faridabad region that are covered under the Affordable Housing Policy.

The policy under Pradhan Mantri Awas Yojna also supports a subsidy of 2.67 lakhs thereby allowing extra benefits to people wanting to buy a residential property without going out of budget.

Thus, the Affordable Housing Policy is a blessing for people who are looking to buy a home in a posh location that is not only within their budget but also has a provision for modern facilities making life a comfortable experience for them and their family.

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