Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
The Punjab government plans to auction land reserved for Economically Weaker Section (EWS) housing in 40 mega projects across the state. The auction is expected to generate INR 2,000 crore in revenue. These funds will be used to build EWS housing near cities like Mohali, Ludhiana, and Jalandhar. This step addresses delays caused by private developers who resisted integrating EWS housing with luxury projects. The policy also allows developers to buy back the auctioned land for EWS homes, pending Cabinet approval.
The Punjab government has a new plan to revive its struggling EWS housing scheme. It will auction 500 acres of land reserved for EWS housing in 40 private projects. The auction is expected to raise INR 2,000 crore. This money will be used to build affordable homes near urban areas. These homes aim to provide better opportunities for economically weaker families. Advertisement
Private builders were reluctant to include EWS housing in their projects, despite government rules. The policy required developers to set aside 5% of the area or 10% of flats for EWS housing. However, builders did not want to mix luxury flats with affordable housing, which caused delays. A government official said that auctioning the reserved land lets builders buy it back.
The funds raised will be used to create better EWS housing in other areas. The funds from these auctions will help create affordable housing near cities like Mohali, Ludhiana, and Jalandhar. These areas offer better access to jobs, education and healthcare, providing an improved standard of living for EWS families.
The government plans to buy land specifically for EWS housing and ensure it comes equipped with essential amenities like water, electricity, and proper roads. Previously the government considered giving one-marla plots to EWS beneficiaries in mega projects, letting them build homes. However, integrating these plots with high-end development faced challenges.
The new policy could create a more inclusive housing model in Punjab. Separating affordable housing from luxury projects may reduce builder resistance. It also ensures EWS families get access to quality homes. If the cabinet approves this plan, it could set an example for other states. Punjab's efforts show its commitment to reducing the housing gap for economically weaker sections.
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
