Amendments to the Deen Dayal Jan Awas Yojna Affordable Plotted Housing Policy were Approved during the Cabinet meeting conduct by chief minister Mr. Manohar Lal Khattar.
Today, I’ll provide you with an important update regarding Deen Dayal Jan Awas Yojna. For which the developers and buyers had been waiting for quite a while.
The wait is finally over. This is the change in the amendment in the policy of Deen Dayal Jan Awas Yojna, for which the approval on the Cabinet was anticipated that was been finally approved by Haryana’s chief minister Mr. Manohar Lal Khattar, during the cabinet meeting on July 29th.
This is the design policy rule that permits developers to sell 50% of their Plots or floors. The remaining 50 percent of units were frozen units, and will be sold after the society has developed.
The government made this restriction to make sure that the builder does not fall behind in any way, and that the builders could build the society within the time frame.
The 50% of frozen units was a form of assurance to the government on the builders’ side.
As a result of the policy that was passed in the amendment, frozen units have decreased from 50 percent to 0 percent. That means builders are now able to sell all units.
Additionally, the builder will be required to construct an area for community centers that is free to the members of the society with no cost for membership.
It will be simple for the builder to ensure that he can build the entire society at once. In the future, the builder will need to provide security of 10 percent from the entire units to the bank as well as TCP.
They can sell these units only after the Complete Builder Society has developed and received their completion certificates.
Who will be benefited Deen Dayal Jan Awas Yojna Amendment ? Why it is necessary? let us understand in some aspects.
- The government has an advantage in revenue that it would get from the development of the 50% frozen units (e.g. EDC/IDC) will now be available today and development can be done at a much faster pace.
- This is a great benefit for developers. They were able to sell 50% less units earlier. They had to first develop it. The remaining 50% could be sold after only two years, so the builders wouldn’t have any problems with funding. It was also difficult for new players to bring the project before Deen dayal jan awas yojna. This amendment will encourage new builders, and more projects will be included in the DDJAY program in the Future.
- Buyers will enjoy the benefit of having maximum buying options at today’s rates. It used to be that Rs 6000 was launched on BSP. They used to take 2 years to build them and their rate was 8000 rupees/sq. ft. The builder will then open 50% of the frozen units up for sale at a rate of 8500 rupees a sqft. This shakes the buyer’s wallet to an extent and forces them to reconsider their decision.
- It used to take between 4 and 5 years to complete the open and frozen phases in a Deen Dayal Jan Awas Yojna Society before this amendment. Now, it takes only two years to complete the development, which is a benefit for everyone.
This is good news for all those who have waited for the allotment under the Deen Dayal Jan Awas Yojna program for a while. They will finally receive the allotment.
This information is for people who have purchased the product. This is all you need to know. The government is active in implementing policies and amending laws to ensure that Gurugram’s development can be accelerated. One thing is certain, Gurugram’s property prices will not fall.
You should make sure that you invest according to your budget and requirements during this time.