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Punjab to come up with new housing policy by Dec 15: Sukhbir

Posted on Nov 29, 10:29PM | UNI

The Punjab government would soon notify a new policy for attracting investment in realty sector, which would be in the public domain by December 15.

This was stated by Deputy Chief Minister Sukhbir Singh Badal while talking to mediapersons after laying the foundation stone for a ten-storey building here today.

Mr Badal said that Punjab was all set to become new investment destination as it was having the highest growth rate even when national economy was in doldrums.

He said that the new policy of housing sector was aimed at making it hassle free for the investor, ensuring time bound clearances besides offering incentives in Floor Area Ratio (FAR).

He said that Punjab would like to encourage high rise buildings besides ensuring convenience of the user. "With limited availability of land, the only answer was going vertical." Mr Badal said that the new policy would incentivise high rise buildings.

Announcing construction of two lakh EWS houses within a year, Mr Badal said that the new building technology unveiled today could be used in such houses.

Mr Badal asked PUDA to study the suitability and economy of new technology for mass housing and submit a report in this regard.