GURGAON: Applicants of affordable flats got good news! People who were despondent after lucky draws for such projects had been held up because number of applicants fell below the stipulated limit. The rule, that a draw of lots could take place only if the total number of applications was 25% above the number of flats on sale, has been changed.
Now, as per the announcement of the department of town and country planning (DTCP), it will allow builders to carry out draw of lots in phases, in which, if the number of applicants is less than the number of flats, all applicants will get flats, though a draw would be held only to determine who gets which flat.
DTCP additional chief secretary P Raghavendra Rao explained, “The recent notification regarding affordable housing policy says (only licenced) builders can carry out draw of lots in phases, depending on total number of applications received. If, say, there are 75 applicants for 100 flats, all would get a flat, but through draw of lots to decide who gets which flat. The remaining flats would be allotted in the second phase, as and when further applications are received, again by a new draw of lots.”
Ankit Goel, director, Suncity projects stated, “It is encouraging that the government has modified its policy to allow a partial draw, keeping current market sentiments in mind. Also, the permission to proceed with the draw even before receiving environmental clearance, will save time and give more clarity to potential buyers, who can withdraw their applications from other such affordable housing projects if they are happy with one”.
Navin Raheja, Chairman of Raheja developers, said developers will no longer have to wait indefinitely for the number of applications to reach a certain figure. They can carry out the lucky draw in phases instead.
He further stated that “Based on the draw, a developer can start constructing units for which draws have been held, instead of investing crores to complete the project and wait for buyers,”
Ajay Kumar, a Gurgaon resident, who is employed at a private firm and is one of the many applicants eagerly waiting for the draw for affordable houses for the past couple of months, said that “With this policy, applicants can expect the draw to be held soon and plan their investment strategy accordingly”.