Uttar Pradesh Housing and Development Council (UPAVP) took several major decisions in its 2273rd board meeting to make home buying easier for the general public before Diwali. To accelerate the sale of over 2,000 vacant flats, attractive offers such as discount up to 15%, significant reduction in interest rates and 50% payment for possession have been made. Apart from this, the stalled construction work in Lucknow’s Awadh Vihar Scheme will resume, while orders have been given for strict action against irregularities in the previous schemes. By simultaneously approving new housing schemes worth ₹5,502 crore in five districts, the council has launched a new initiative for housing projects across the state.
The most notable decision taken in the board meeting is to promote the sale of vacant flats. The council currently has over 2,000 vacant flats, which will be sold at special discounts during Diwali. Earlier, only 5% discount was given if full payment was made within 60 days, but now it has been increased to 15%. 10% discount available for payment within 90 days. Additionally, buyers will get possession on paying 50% of the flat price while the remaining amount has to be repaid in easy installments over 10 years. The biggest relief is in the interest rate. Earlier it was 11.50%, which has now been reduced to 8.50%.
These decisions taken in the meeting chaired by the Additional Chief Secretary of the Housing and Urban Planning Department can prove to be a milestone in realizing the dream of the common man to have a house. Housing Commissioner Dr Neeraj Shukla said, “These offers are especially for government employees and the middle class. The allotment will be done on a first-come, first-served basis. Our target is to sell at least 500 flats by Diwali.”
A stalled project in Avadh Vihar Yojana will come back on track.
The construction of seven proposed towers of Saryu Enclave in Sector 7D of Avadh Vihar Scheme of Lucknow will now start again. In 2017, work was stopped due to low demand and only 27 flats were sold. Even when work resumed in 2018, construction of only two towers was partially completed, with the rest stalled. An audit revealed that ₹48 crore had been spent so far, which was objected to. The board has decided to auction the remaining towers “as is” for ₹319 crore.
The buyer will not only have to complete the construction but also provide all the amenities (such as parking and security) provided by the council to the owners of the 27 flats that have already been sold. This will not only generate revenue for the council, but will also enable the construction of hundreds of flats to be completed. Experts believe this move will attract private builders and revive the project.
Demand survey process started in Saharanpur
The demand survey process has been started for Saharanpur district, and a new scheme may be announced soon. These schemes will not only provide thousands of plots and flats, but will also strengthen local employment and infrastructure.