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National: Only carpet area to be recognized by realty regulatory bill

A top government official stated that, as per the specifications in the proposed Real Estate Regulation and Development Bill, realty developers will now be able to get clearances on building plans on the basis of carpet area only.

 

In National Capital Region (NCR) housing units are sold on the basis of super area which besides built-up area also includes area covered by common amenities such as corridors, clubhouse and lifts etc. And this area is nearly 25 percent more than built-up area.

 

Arun Kumar Misra, Secretary, Ministry for Housing and Urban Poverty Alleviation (HUPA), stated, “The municipalities and the development authorities would have to pass the map on the basis of carpet area and this would be a mandatory requirement as any other criteria apart from that like the super area or the built-up area and others would not be recognized by us.”

 

In proposed regulatory bill it has also been suggested that developers should be allowed to launch projects only after getting all the statutory clearances from pertinent authorities. As per some other provisions of this bill, before starting construction of any real estate project, developers are required to submit all relevant clearances to the controller and at the same time display these on website.

This entry was posted in Gurgaon, Investment, Mumbai, NCR Delhi, Newsletter, NOIDA. Bookmark the permalink.

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