Ghaziabad Civic Body Slashes Flat costs over 50% in Madhuban Bapudham

Good news for you if you are planning to buy a house in Ghaziabad. Now you can buy EWS and LIG Flats of Madhuban Bapudham Yojana at 55% lower price. Ghaziabad Development Authority (GDA) is launching a one-month long online scheme on August 5. The applicants whose name will be selected will get EWS for 4.5 lakh and LIG flat in 10.80 lakhs.

Ghaziabad Development Authority (GDA) has housing units in Indirapuram, Swarnjayantipuram, Vaishali, Nandgram, Indraprasth, and Madhuban Bapudham. The reason behind issuing of the scheme is to attract home buyers for some time now as GDA’s properties have failed to attract buyers in the past.

To attract home buyers for its properties, the Ghaziabad Development Authority had planned to framework a Madhuban-Bapudham housing scheme in 2004 after getting 1234 acres of land. Later, in many pockets, EWS and LIG have been built. Out of this, 466 EWS and LIG have not been sold yet. Now the Ghaziabad Development Authority slashed the flat rate following a state government’s order.

An EWS flat that was previously priced nearly Rs.10 lakh will now be available for Rs.4.5 lakh. Similarly, the price of a LIG flat has been decreased from Rs 23 lakh to Rs.10.8 lakh.

As per the GDA official data, there are 296 EWS and 170 LIG flats in Madhuban Bapudham. Those whose annual income up to Rs 3 lakh can apply for an EWS flat; for LIG flats, the limit is Rs 6 lakh per annum. The scheme will be opened to the public for a month from August 5 2019.

At the same time, the authority was selling them according to the cost experienced in making them. Earlier, the state government has instructed the EWS and LIG buildings to be sold according to the mandate.

It is really a big step to provide affordable houses to its residents at such a lower price. Besides, the selected applicants will have to pay just 10% initially and the rest of the balance amount can be paid in instalments in a given time period.  GDA officials say that the first price was double, but now the price has been cut.

Image Sources: livehindustan.com