Lack of coordination among debts hits affordable housing
As civic development bodies struggle to find investors for projects under affordable housing schemes, the developers are disheartened over improper implementation of the schemes. The state government has even extended several exemptions to attract investors for these projects, however, the builders remain doubtful.
“There have been instances when builders were asked to submit betterment levy against the ‘exemption’ in floor area ratio extended under the affordable housing scheme,” says Gopal Gupta, chairman of Confederation of Real Estate Developers Associations of India, Rajasthan.
The recently implemented unified building bylaws provision for 0.75 per cent additional built up area ratio (BAR) for projects under the CM Jan Awas Yojna. Though the builder body chairman claim that it is not easily extended by the local development bodies and is creating difficulty for investors.
“This lack of coordination between departments is discouraging the investors despite all efforts of the government,” he adds.