Punjab to set equivalent building bylaws, developers in for benefits

Chandigarh : Punjab to set equivalent building bylaws, developers in for benefits
Punjab is set to have equivalent building bylaws followed by local government departments and housing, adding benefits for developers such as reducing the minimum area for a plotted colony under the affordable housing scheme and an increase in the saleable area in commercial colonies.
An official told the media that the state has decided to reduce the minimum area from 5 acre to 1.5 acre for plotted development and reduce it from 2 acre to 0.5 acre for group housing, taking into consideration the ground reality of high land prices and unavailability of suitable land in some cities. Previously, for the commercial colonies under Punjab Apartment and Property Regulation Act (PAPRA), 40% saleable area was allowed, but now an extra benefit of 5% will be given.
Promoters who have already paid the whole amount of extra development charges (EDC) or regularisation charges do not need to pay extra connectivity charges for water and sewerage connections.
Outstanding dues of ED on real estate projects can now be paid in six half-yearly instalments along with the applicable interest by way of post-dated cheques.
Many representations have been received pointing out the differences in the norms being followed by the local government department and housing department. The approval of Change of Land use (CLU) and building plan is made under PAPRA by the two departments. As per the decision, a park will be 5% of the area of the affordable housing project. The maximum saleable area will not be more than 65% of the total site area.
For town planning schemes, a promoter who wants to develop the land into a colony will have to get a promoter license, besides a CLU and license from a competent authority. The local government department provides 5% additional floor area ratio (FAR) to the buildings which have a green rating Puda has allowed FAR of up to 10%.