Opportunity to buy house and shop in Uttar Pradesh now, property prices will be low in these places
UP Property: If you want to invest in commercial property, then you are taking the right decision. You should keep some important things in mind, so that this deal can prove beneficial for you.
HR Mandi Bhav, UP Property: The prices of flats, houses and shops which have been unsold for a long time by the development authorities and housing developments of UP will be reduced. The government is preparing new casting guidelines for such unexploded properties.
The prices of flats, houses and shops which have been unsold for a long time by the development authorities and housing development of Uttar Pradesh will be reduced. The government is preparing new casting guidelines for such unexploded properties.
After its implementation, everyone's casting will be done as per the same rules. For the new casting guideline, a committee has been formed under the chairmanship of Housing Secretary at the government level and LDA Finance Controller Deepak Singh at the authorities level. They have been asked to submit their report soon.
There are about 20,000 properties of state authorities and housing development which are not being sold for a long time. Billions of rupees are stuck due to this. At many places, houses, flats and shops are falling into ruins due to not being sold for 10 to 15 years.
The government has considered these as undistributed assets. Now efforts are being made to reduce their prices. LDA had reduced some prices in the past, but other authorities and housing developers of the state are sitting on the same old rates. Due to this their houses are not being sold.
Now some items will be removed from casting in the new casting guidelines. At the authority level, the committee formed under the chairmanship of LDA Finance Controller Deepak Singh includes the LDA and the Chief Engineer of Housing Development and other officials.
They have to prepare a proposal and send it to the government. The government committee will examine it and approve the new guideline.
Awas Bandhu Director Ravi Jain has written a letter to LDA and Housing Development on February 2 asking them to provide its report.
10350 flats worth Rs 4255 crore of housing development only
10350 flats of housing development alone are vacant, whose construction cost is Rs 4255 crore. These flats are 10 to 15 years old. Similarly, about 2000 flats of LDA are vacant.
Many flats of Ghaziabad and Kanpur Development Authority are also vacant. With the new guidelines the prices will become accessible to the people.