Hyderabad Land Reservation on Hold
The lower income groups (LIG) and The economically weaker sections (EWS) has been granted 20 percent mandatory housing norm as housing reservation fund, only in the private layouts in Hyderabad. The one acre land proposal has been requested to increase by one hector for the welfare of these sections. The mandatory rule for the cities under JNNURM is that all the builders and developers who all have taken up the project to construct buildings or houses should construct 20% of housing units for the EWS population.
Since the time of orders its been seen that not even a builder has come forward to take up this mandatory rule as the builders claim this the biggest drop down for the city fame. Real Estate Developers Association of India vice-president, Mr C. Sekhar Reddy reported saying that the developers are not against the rules made by the state government on adhering the 20% land to the EWS population. However the builders have rejected this offer replacing the demand of 20% of the land to 20% of the housing units and also they are stating that the units granted to them would take up the major loss in their overall capital investments.
Source: Deccan Chronicle
Capital investment, economically weaker sections, EWS, Hyderabad, JNNURM, Lower income groups, Real Estate Developers Association
