Gujarat Government invites Private Developers for Redevelopment

 

By Gujarat Bureau

The government has launched a new scheme to attract private developers to redevelop dilapidated public housing colonies

Gujarat government announced its ‘Redevelopment of Public Housing Policy’ yesterday. The government has launched a new scheme to attract private developers to redevelop dilapidated public housing colonies. The plan to include redevelopment of private housing colonies was dropped at the last minute.

The public housing scheme will include housing colonies in urban areas under Gujarat Housing Board (GHB), Urban Local Bodies (ULBs) and urban development authorities.

The colonies must be older than 20 years with a minimum plot size of 5,000 sq m. The developer will have to provide transitory accommodation to the present dwellers. Under the ‘Redevelopment of Public Housing Policy’, the state government has given the highest possible 3.0 FSI to private developers as well as opens trading facility for transferable developmental rights (TDR) of FSI which will boost the real estate industry in the state. Developers will be allowed to trade FSI.

Currently, developers are allowed an FSI of 1.2 in an R2 zone and 1.8 FSI in an R1 zone, with between 0.6 and 0.9 of chargeable FSI. Under the newly-announced policy, redevelopment of only government colonies will be allowed, using PPP (Public Private Partnership) model.

RING IN THE NEW

  • the housing society owners association must apply to the local authority with the consent of at least 60% of members.
  • The developer will be selected through competitive bidding.
  • Developer will get up to 3 FSI and Transfer of Development Rights (TDR). Developer can construct 7-11 storeys with consent of all stakeholders.
  •  Developer to sell additional affordable housing stock at a regulated price. Dwellers to get redeveloped houses without any cost.
  • Developers to give 40% extra carpet area to owners in case of redevelopment. The minimum should be 30 sq m carpet area. For e.g. if you have a 30 sq m apartment, the developer will have to give you a 42 sq m redeveloped one
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