Chandigarh, December 13, 2019 – Affordable housing projects are the need of the hour as there is so much of real requirement in this segment. Even though many builders have been focusing on the premium category, the demand is still predominant in the affordable category.
These were the words of Punjab Housing and Urban Development Minister Mr. Sukhbinder Singh Sarkaria, who was talking with media after inaugurating Three-Day ‘Destination Punjab – Reality Expo’ at Parade Ground Sector-17 here on Friday. Notably, this mega expo is being hosted by Punjab chapter of Confederation of Real Estate Developers’ Associations of India (CREDAI).
Urging the Private Developers to come forward with affordable housing projects, Mr. Sarkaria said that Chief Minister Captain Amarinder Singh led Punjab Government has already notified a policy enhancing 15% reservation to 30% in allotment of houses/plots for SC category applicants in all allotment schemes. The state government has also made the provision of preferential allotment in all the allotment schemes to the senior citizens (attaining age of 60 years on the date of submission of application) immediately followed by women applicants, who do not own any plot/house anywhere in the country, he added.
Emphasizing over mutual understanding to resolve the issue of illegal colonies, Sarkaria said that the state government has also notified a policy for compounding of unauthorized colonies and regularization of plots and buildings to bring all the unauthorized colonies, developed before March 19, 2018, into the fold of planned development and to ensure better quality of life to the residents of these colonies.
Congratulating the CREDAI Punjab for hosting the Expo, Sarkaria expressed hope that this event would go a long way to further boost state’s reality sector, besides offering a platform to the buyers to interact with the leading Realtors of the region as several renowned Reality Firms from the north region is participating in the expo.
During the event, Sarkaria also gave away the Life Time Achievement Award to 5 leading developers, who immensely contributed in upliftment of the Reality Sector of the state. These awards were given by CREDAI Punjab.