HUDA puts limits on request for urban plots

December 14, 2006	(Be the first to rate this story!)  Loading ...
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The Haryana Urban Development Authority (HUDA) seems to have swung into action. The agency has decided to accept only one application form from an individual for any urban estate plot in its fast flourishing state.

By submitting several applications, property dealers try to increase their chances of acquiring a plot thereby rolling the ball in their court. Such a step by the agency will help to limit the number of such applicants, say HUDA officials.

HUDA had been collected whopping amount of money in booking amount from applicants in the past few months, as the investors’ appetite grow and property market boomed.

The higher number of applicants used to push up the premium on plots in some of the states witnessing unprecedented growth in recent years. The list of these places includes Gurgaon, Faridabad, Panchkula, Sonepat, Panipat, and others.

Also, the HUDA has been ordered to construct dwelling units for the poor in the national capital region. As per the instructions of Chief Minister Bhupinder Singh Hooda, these houses should not cost more than Rs.1, 00,000 per unit.

HUDA earned a profit of Rs.1.39 billion in 2005-06 which is expected to go up to Rs.4 billion in 2006-07.

News Published Under:   Real Estate India |

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