The Gujarat state government is set to unveil a new housing policy aimed at urban areas, scheduled for launch within the upcoming month.
AHMEDABAD: The government has plans to introduce this new housing policy shortly. Additionally, it intends to implement two sub-policies: one focused on slum rehabilitation and the other aimed at developing affordable housing. Both of these sub-policies are expected to be introduced simultaneously.
According to sources familiar with the situation, the government is targeting the construction of approximately 2.2 million housing units within urban settings. Out of this total, 700,000 housing units will be specifically designated for the slum rehabilitation initiative. Surveys to identify slum areas across various cities have already been completed.
The remainder of the housing units will cater to other classifications such as Economically Weaker Sections (EWS), Low-Income Groups (LIG), and Middle-Income Groups (MIG). Notably, this initiative will focus on assisting lower economic classes while excluding higher-income groups from its benefits.
Despite being intended for economically disadvantaged individuals, the quality of these houses will not be compromised, as assured by an official from the urban development department. They confirmed that these housing units will utilize advanced technology to ensure satisfactory quality.
The housing plots designated for slum dwellers will cover 25 square meters, with the expected cost ranging from Rs.300,000 to Rs.350,000, necessitating buyers to cover any additional expenses.
In contrast, the LIG houses will provide 50 square meters each, while the MIG-1 homes will measure 65 square meters. The pricing structure varies, with LIG homes available at Rs.2000 per square foot and MIG homes at Rs.2500 per square foot.
The central emphasis of this new housing policy is to address the needs of lower economic classes, ensuring affordability, as noted by the official. He also mentioned that the equated monthly installment (EMI) will constitute less than 40% of the buyers' monthly income. The government has secured land parcels in several cities to facilitate this project.