Gujarat state government is planning to launch a new housing policy for urban areas.
AHMEDABAD: The state government of Gujarat is likely to introduce a new housing policy by the end of this month. It also plans to implement two sub-policies.
New housing policy is expected to be launched in Gujarat. Under the new policy around 22 lakh housing units will be developed in the urban areas. Majority of them are in the middle income, lower income and economically weaker sections.
An official said that the government has plans to launch housing units for the upper income segments. Yet, the priority is LIGs and EWS.
Among the two sub-policies, one is meant for rehabilitating the slum dwellers. The other aims to provide affordable housing units to the lower income group. Both these policies are expected to be launched simultaneously.
The Gujarat state government expects to construct almost 22 lakh houses. Out of this, 7 lakh houses will be separated for slum rehabilitation. In most of the cities, the slum – surveys have been conducted.
Gujarat government also has plans to develop homes for the other economically weaker categories. The remaining housing units will be developed for the EWS, LIG and MIG. While focus is levied on the economically weaker sections, the upper class is absolutely kept out of this program.
The houses meant for slum rehabilitation will be developed with 25. sq. m. size with prices falling between Rs.3 to Rs.3.5 lakh. The buyers will have to bear the additional cost.
The built up area of LIG houses will be 50 sq. m. The average price will be Rs.2000 per sq. ft. The built up area of MIG houses 65 sq. m. and the price will be around Rs.2500 per sq. ft.
Under the new plans, the EMI will be around 40% of the total income of the buyers. This will enable them to pay off the remaining amount without being highly affected by the EMIs.