14.6.08

Punjab:Affordable Housing

Major real estate players including DLF, Parsvnath, Omaxe, TDI, Ansals and Unitech have shown interest in joining hands with the Punjab government in its bid to provide ‘affordable houses costing not more than Rs 1 lakh each' in the state.
Real estate and infrastructure players who attended a meeting with Punjab chief minister Parkash Singh Badal on Thursday to come out with‘ concrete plans for houses for all scheme.Badal in the meeting said that the state government's will give its full support to the corporate sector for a joint bid to provide every poor and needy persona roof over his head in the state. The chief minister announced the creation of a separate ‘state shelter fund' to be used exclusively for the construction of economically weaker section (EWS) houses by the Punjab Urban Planning and Development Authority (PUDA). All urban development authorities will contribute 50% of the licence fee collection to the fund.Having an interaction with the stake holders in coordination with NARDECO before freezing the policy on ‘affordable housing for all', Badal listed various path breaking measures taken in the housing andurban development.
Badal said no stamp duty and registration fee will be charged on the purchase of land and transfer of EWS houses.Also,material used for construction of EWS houses will be exempted from VAT

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