Rajasthan housing board looks to give 40% discount on unsold flats

Rajasthan housing board looks to give 40% discount on unsold flats
31/01/2019 , by , in News/Views

The Rajasthan Housing Board (RHB) has initiated an exercise to sell its unsold flats and houses on 30-40% discount rates.

At present, the board has 11,349 unsold flats in its nine circles, including Jaipur, Jodhpur, Kota, Udaipur, Alwar and Bikaner.

A RHB official said, “The deputy housing commissioners have been directed to send a proposal after reducing the land price. In recent past, wide gap has occurred in RHB rates and market price. We have proposed to take market rates as a benchmark and reduce the RHB prices accordingly. As land prices of RHB is higher, it is expected the house rates will come down by 30- 40%. The maximum number of rates are likely to be reduced in Kota circle,” he said.

The move has been initiated following urban housing and development (UDH) minister Shanti Dhariwal’s direction, as due to prolonged slump in the real estate market, many buyers have not showed interest in RHB houses, many houses are unsold.

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