The Haryana government in July 2024 has finally amended its rules to allow buildings to have stilt-plus-four floors in certain areas. This is expected to have a big impact on Gurgaon's housing market.
This new policy permits builders to construct four floors with stilts in areas where the layout plan allows four dwelling units per plot. The approval also extends to plots adjoining 10-meter roads where the layout plan permits three dwelling units per plot, provided there is mutual consent from all adjoining plot allottees. Additionally, this policy is applicable to licensed Deen Dayal Upadhyay Jan Awas Yojana (DDJAY) colonies, which cater to affordable housing for low-income groups.
With property prices in premium projects rising by as much as 53% in the last year, this new policy aims to increase the supply of housing and make homes more affordable. However, potential buyers need to understand how this policy could affect them.
The new policy allows developers to build more floors per building, which means more homes can be constructed on the same piece of land. This increase in supply could help meet the high demand for housing in Gurgaon. For buyers, this means more options and potentially less competition for homes.
With more homes available, the rapid rise in property prices might slow down or even stabilize. This could make buying a home more achievable for many people who have been priced out of the market. More housing options might help keep costs from skyrocketing, providing more affordable choices for middle-income families and first-time homebuyers.
The policy also aims to improve urban living in Gurgaon. Developers will need to help upgrade infrastructure, such as roads, water supply, and sewage systems. These improvements can significantly enhance the quality of life for residents. Buyers can look forward to living in neighborhoods with better infrastructure and amenities.
Despite the benefits, there are several challenges and considerations buyers need to keep in mind:
More buildings and people could strain existing infrastructure. Water supply, sewage systems, and roads may not be able to handle the additional load. Buyers should check if the area they are considering has the necessary infrastructure to support increased density.
For plots on wider roads, the policy requires written consent from neighboring plot owners before building taller structures. This is to prevent negative impacts on neighboring properties. Buyers should be aware of this requirement and consider the time and effort needed to get neighbor consent, especially for corner plots or specific sectors.
While the policy aims to provide more affordable housing, developers might focus on high-end apartments and premium projects. This could limit truly affordable homes. Buyers should research developers' track records and project portfolios to ensure they are investing in properties that fit their budget and expectations.
The new policy has received mixed reactions from Gurgaon residents and stakeholders. Some people welcome the potential for modernization and increased housing capacity, while others worry about the impact on existing infrastructure and increased population density.
Narender Yadav, president of the Gurugram home developer association, is happy with the new policy. He believes it will lead to more pocket-friendly housing options. "The cost of apartments in the city is very high, leading most people to rent. However, with the construction of many new houses, more affordable options will become available. The absence of a fourth floor has been causing a shortage of residential units and driving up rental prices," he stated.
On the other hand, residents like Kusum Sharma from Suncity Township in Sector 54 have practical concerns. “Why will the adjacent house owner give their consent for free? This will increase tiffs between neighbors. The policy should have mentioned specifics, but it will result in public fights in residential areas. These constructions will lead to traffic congestion and illegal parking on the internal roads. Children will not be able to cycle in the colony,” she pointed out.
KL Sharma, chairperson of the citizens’ group JAAGO GURUGRAM, emphasizes the need for sustainable infrastructure. He suggests mandatory installation of rooftop solar panels and water harvesting structures in new buildings. “Additionally, exploring the use of greywater (from sinks, showers, and washing machines) for kitchen gardens and flushing, and treating blackwater (from toilets) for safe reuse is essential. Efforts are needed to reduce strain on the electrical infrastructure to prevent frequent breakdowns and blackouts during peak demand. Gurugram already faces significant water and electricity constraints, and further infrastructure development could worsen these issues," he said.
The Haryana government's new policy allowing stilt-plus-four floor buildings in Gurgaon offers the promise of increased housing supply and improved affordability. However, buyers need to consider potential challenges like infrastructure strain, neighbor consent requirements, and developers' priorities. By researching and understanding these factors, buyers can make informed decisions and take advantage of the opportunities this policy presents.
As Gurgaon continues to grow, this policy could play a crucial role in shaping the city's housing landscape and making homeownership more accessible for a wider range of buyers.
If you still have questions or doubts about whether Property in Gurgoan is the right option for you, you can tap into our lending expertise by signing up on our website: https://creditnama.com/
One of our lending experts will give you a FREE consultation call within minutes. Until then, wishing you the best in your search!
About the article: Got any questions or point of view on our article? We would love to hear from you.