Punjab works on roadmap to rationalize realty rates

CHANDIGARH: Punjab is trying to revive the real estate sector in the state by going in for realistic pricing in government projects. The housing and urban development department has begun work on a plan to rationalize the rates of properties in the state, which are believed to be a put off for prospective buyers.

The realty sector has been hoping to get a boost from the new government. Sources said following the recent meeting convened by Chief Minister Capt Amarinder Singh with officials of the Punjab Urban Development Authority (PUDA), a roadmap is being finalised to remove disparities in pricing of domestic and commercial projects in the state.

"At some places, there is huge difference in prices even within a radius of 5 km. If the government projects undertake some course correction, it will have an impact on the overall real estate scenario in the state. In the past, the development authorities only revised prices after getting repeated poor response at auctions," said an official. 
 

http://timesofindia.indiatimes.com/city/chandigarh/punjab-works-on-roadmap-to-rationalize-realty-rates/articleshow/58541738.cms
 

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Smart plans keep the real estate industry moving

Placing the population issue at the core, governments all over the world are insisting for the prudent use of land. Unlike most of the other countries, this is a very serious matter in India, where the proportion of population and land availability stays asymmetrical. Hence giving a genuine punch to this framework, many initiatives and programmes are being put forward by our government in accommodating everyone, especially the economically weaker sections, in the available space. For giving momentum for this, state governments too are holding their hands with the central initiative. Here, Punjab government has some interesting moves in their record.

 

The Punjab government has plans to set up the Punjab State Affordable Housing Development Authority. Moreover the Greater Mohali Area Development Authority too is all set to enter the affordable segment in SAS Nagar. There are also plans to construct 10000 apartments over a period of time in a phased manner, with 2000 flats being built in the first phase. 

With Chandigarh Masterplan 2031 receiving green signal, this holistic housing plan envisages judicious use of land, group housing instead of independent plotted developments, and allocation of land for the economically weaker section.

Since the prices of property have come down, with Zirakpur-Kaka Highway and Mohali displaying a downward trend during the first quarter of 2015, the chances for coming forward for purchasing property in this enclave is high. At this point of time, people are ready with their wallets to invest in the real estate market. There is another interesting turn to the story. Owing to the lower liquidity in the market and the falling down of property rates, it is said that most of the deals are now being done in exchange mode. Government’s involvement is expected here to keep a check on it.

Flats In Zirakpur - Mona Greens

Now, with “Housing for All” plan by the central government, India is stepping forward in sheltering everyone by 2022. Affordable prices are being offered by real estate companies for the growing needs of a family. When family set up got shifted from joint to nuclear type, the need to construct more houses too increased. Mona Townships has been involved in this sector for providing affordable houses to its customers. Flats in Mohali and Zirakpur and the apartment culture got life by the presence of Mona Townships.  

Flats in Mohali - Mona City

The new policies taken forward by the government are expected to display their result by getting better cooperation from state governments. To make the government initiative a success, real estate sector too has to take part in the race of this noble mission of providing roof for all.

 

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