As land availability has been a major challenge for most of the developers, the idea of reusing the unused land can undoubtedly come to their rescue. Sources suggest that the government has recently asked the authorities to reveal the details of all unused land. The move is taken to assure land for the affordable housing projects. The recent push for this project is commendable but the lack of availability of land is a major concern. The developers are in need of land and unused area can easily gratify their needs. The major concern of is to execute the “PradhanMantriAwasYojna” at a faster pace. Land availability is currently the major challenge for the developers across India. Also, Haryana government has recently come up with a yet another step for boosting the Affordable Housing segment and the whole of the real estate climate. The new land pooling policy is a provision to avoid land acquisitions and promote project initiatives for the affordable housing wing. According to the Land Pooling Policy 2017, the development agency pays back to land owners by giving them a part of the developed land, but no monetary compensation. The policy will encourage the land owners to contribute their land for further development, thus becoming a part of the development process. Sources say that the government had been planning to replace the old land pooling policy with new one that could be more effective.
“We should be clear about our needs with the government so that they can help us out within a desired period. With time, the government has enacted various policies helping affordable housing projects. The timely execution of such projects is already speaking volumes, but in order to maintain the same level of progress, we have to work on challenges. Also, the cheaper land prices will help us in coming up with more such projects. Being a developer, we need to convince the government to provide unused land as soon as possible” says Pradeep Aggarwal, Chairman, Signature Global.