February 26, 2009 1:19:35 am
With an aim to increase the dwelling units in the state and provide affordable accommodation to all,the Haryana Urban Development Authority (HUDA) is all set to increase the covered area of the group housing societies in the state from the existing 10 per cent to 20 per cent. The decision was taken at a meeting held on Wednesday under the chairmanship of Haryana Chief Minister Bhupinder Singh Hooda.
The present times demand an increase in the dwelling units in the state. The proposal for increasing the area earmarked for group housing societies received the final nod today, said Chief Administrator (HUDA) T C Gupta.
The members also approved to increase the interest rates on normal installments being paid by the HUDA allottees from the existing 9 per cent to 12 per cent. The penal rates of interest for delayed payments has also been increased from the existing 12 per cent to 15 per cent. These new rates will be effective from April 1.
On the logic behind increasing the interest rates,Gupta said: While we do understand that the rate of interests were showing a downward trend recently,the rate of interest that HUDA was charging was,however,far low than the prevailing market rates, said Gupta.
For the residents,the approval comes as a big relief. A resident of Sector 7,Suresh Mittal said,With the drastic increase in population,this was the need of the hour. With the availability of land decreasing with each passing day,group housing societies will be the only solution to deal with the lack of availability of land.
What is increase in housing area?
If a sector with a covered area of 500 acres earlier had 50 acres of land earmarked for group housing societies,the new covered area will be increased to 100 acres. This means the number of dwelling units that can be accommodated in any particular covered area has doubled.
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