At Jaipur, home buyers booking flats in yet to be approved projects

JAIPUR: Developers in the city are now eyeing to fleece lower income group (LIG) and economic weaker section (EWS) as bookings of flats in yet to be approved projects are being done on a massive scale, taking advantage of the poor unwitting buyers. Many developers are making misleading claims through advertisements in several national and regional newspapers inviting applications from prospective buyers for these low-cost housing schemes.

However, majority of schemes are are still in process. As per the Jaipur Development Authority (JDA) official sources, the developers have also invited applications for schemes which were cancelled by the JDA recently. “At present, only 10% schemes have been approved by the JDA.

Due to technical reasons, JDA has also cancelled a few schemes. Buyers should check the status of developers with the authority before investing in the projects,” said a senior official. However, despite the advertisements being blatantly published in the newspapers, the state government and civic body officials have turned a blind eye as this would help them achieve the target of providing EWS and LIG houses under chief minister’s ambitious Jan Awas Yojna.

As the invitation is for purchasers of poor and lower income group category, possibilities are high that many might easily get duped as they are not well educated. Under the Yojna, the government will provide loans for eligible borrowers at a subsidy at 6.5% per annum on a maximum amount of Rs 6 lakh or the loan amount, whichever is lower, for a maximum tenure of 15 years.

“The developers are also claiming to provide such subsidies to purchasers, without receiving the approval. The offer looks lucrative and many uneducated people are queueing up for bookings in the unapproved projects,” said a source.  The projects which will be approved will be provided with relaxation on land conversion charges and building approval plan by the state government.

Majority of the developers who have applied for approval of the projects have not purchased the land. “In many projects to seek the benefit the developers have applied in JDA on the basis of agreement after providing token money to the owner. The registry of land has not been done for many projects,” a source said.

Credits ET Realty

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