Affordable Housing Rates Revised to ₹5000 per sq ft
In an effort to save the industry, the Haryana government raised the prices for affordable housing units by an average of 20%. However, experts in housing say that it can result in a rise in the cost of inexpensive homes and make them less accessible to the average person. Rates in Faridabad and Gurgaon have gone up from 4,200 to 5,000 per square foot. While acknowledging this, developers also warned that it might drive up the cost of entry-level housing. To resurrect the affordable housing sector in Haryana, the Haryana government hiked affordable housing tariffs of affordable developments under affordable housing groups on last Friday by an average of 20%. The affordable rates in two Haryana areas with growth potential—Gurugram and Faridabad—have gone up from 4,200 to 5,000 per square foot. Manohar Lal Khattar, the chief minister of Haryana, made this choice during a meeting of the cabinet on Friday. The move to increase the prices was hailed by a number of Gurgaon developers ...