AP government plans to relax building norms
The Andhra Pradesh Government’s decision of relaxing building norms for large housing projects and levy shelter fee for housing of the poor is expected to boost up the state’s real estate business.
The new Government Order passed last week has relaxed an earlier provision made in January 2011, in which builders should compulsorily reserve a fifth of the project area for houses for the low-income group housing.
The relaxed norms permit builders to provide land within 10 km of the project or within five km of Greater Hyderabad Municipal Corporation area for housing for lower-income groups.
This move by government is expected to bring great relief to developers as no new project was applied for in the last 18 months. But a new provision has been provided in the form of shelter fee, which the developer has to pay.
It is expected that the realty sector will shortly come out of hard period where prices had come down and sales were low. Still, it has to be noted that there is good demand for housing projects which are rightly priced and close to busy centres.
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Source: Business Line
Andhra Pradesh Government, Building norms, demand for housing projects, GHMC, Government order, Greater Hyderabad Municipal Corporation, low-income group housing, Realty News, Realty sector
