Amendments to the Deen Dayal Jan Awas Yojna-Affordable Plotted Housing Policy were approved during the Cabinet meeting chaired by Chief Minister Manohar Lal Khattar
Today I will give you an important update about Deen Dayal Jan Awas Yojna. For which developers and buyers were waiting for a long time. That wait is now finally over. I am talking about the amendment in the policy of Deen Dayal Jan Awas Yojna, on which the stamp of the cabinet was awaited, which have finally approved by the Chief Minister of Haryana, Mr. Manohar Lal Khattar, in the cabinet meeting on 29th July.
We are talking about the design policy rule here that developers can sell only 50% of the plots or floors. The remaining 50% of units were frozen units, which will sell only after the society developed. The government put this rule to ensure that the builder should not default in any way and that the Builder could develop the society on time. So the 50% that frozen units were a kind of security with the government from the builder’s side.
In the amendment that has taken place, the frozen unit have reduce from 50% to 0%. This means now builders can sell 100% of units. And the builder will also have to build a community center which will be free of cost for the residents of the society without any membership charge. It will be easy for the builder that he will be able to develop the entire society simultaneously. Now the builder will have to give security of 10% of the total units to the bank and TCP. They will be able to sell only after the Complete Builder Society has developed and obtained the completion certificate.
Why was Deen Dayal Jan Awas Yojna amendment necessary, and who will benefit from it? We understand it with some points.
- There is an advantage for the government that the revenue that it was going to get after two years, on the development of 50% frozen units, like EDC / IDC, will be available today and developed at a faster speed.
- It has a huge benefit for developers. Because earlier they were able to sell only 50% of the units. And they needed to develop it first. He could sell the remaining 50% only after two years so that the builders would have an issue with funds. And it was difficult for the new players to bring the project to DDJAY. This amendment will also encourage the new builder, and more projects will come under the DDJAY scheme in the Future.
- The buyer will have the advantage of getting maximum options to buy at today’s rate. Otherwise, it used to be that today if Rs 6000 launched on BSP. So they used to take two years to develop them, and by then, their rate would be 8000 rupees per sq. ft. At that time, the builder, who opens 50% of the frozen units for sale, will launch at the rate of 8500 rupees per sqft which shakes the buyer’s budget to a great extent, and they have to change their decision.
- Before this amendment, it used to take 4 to 5 years to complete both the open and frozen phases of a DDJAY society. Whereas now, complete development can done in two years, benefiting everyone.
And this is also good news for those who have been waiting for a long time for the allotment of frozen units under the DDJAY scheme. Finally, now, they will get the allotment. This information is only for those people who have already purchased. Now, this is the only thing to understand here. The government is very active Regarding policies and amendments so that the development of Gurugram can boost. And one thing is clear from all this the prices of properties in Gurugram will not stop. Make sure to put some investment according to your requirement and budget during their time.
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