June 27, 2017
Laws will be amended to allow more FAR in lieu of creating houses for the poor.
In its bid to push construction of affordable houses under Pradhan Mantri Awas Yojna (PMAY), the govt. is likely to sanction more floor area ratio (FAR) to the builders for creating dwelling units for the poor.
There's also a proposal to provide the builders with land for high-end apartments in 1 part of the city & in return, they'll have to construct a complex of affordable houses in other location. The private developer will provide the land in this case.
These're some of the options that Housing Ministry has put in the public domain in its draft policy for public private partnership (PPP) for Pradhan Mantri Awas Yojna.
The Housing ministry has also proposed policies to allow building affordable houses on private land.
In this case, govt. authorities'll grant subsidies on stamp duty & charges for external & internal development, besides allowing higher FAR. Single window clearances'll also be allowed to incentivise private developers to build such houses.
The draft policy says, "Taxation benefits under Section 80-IBA of the Information Technology Act can also be made available to the developer."
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