DLF, Raheja and Signature Global are among the builders who have turned to plotted colonies as, apart from the surge in demand, there is no construction cost involved and they also avail a tax benefit from the state government.
“At least 10 developers in Gurgaon are coming up with the plotted colonies to avail benefit of the scheme and most of them have received astounding response. This was an untouched market in Gurgaon with most of the developers concentrating on luxury segment. The affordable plot scheme has changed the game and more developers will devise the land through this as there is no heavy capital involved and it is less time consuming,” said sources.
In high-rises, construction tends to be slower as buyers prefer ready-to-move properties, said real estate executives. DLF, the country’s largest developer, had told investors during the last quarter earnings call about its plan to construct plots under the scheme of the Haryana govt.
“The difference being that in the last few months, there have been certain policy interventions by the Haryana government which have made the monetisation of these pieces slightly more friendly.
Under the DDAY scheme, the state plans to promote high-density plotted colonies across Haryana and has made it mandatory that all the projects be completed within a period of seven years from the date the licence is granted.
Source : ET