Gurugram developers have taken a dim view of the Haryana Government’s ban on the construction of a fourth floor and a stilt on residential plots introduced in February last year and demanded the moratorium be lifted as they have suffered consequential losses due to the government’s decision. Last year in October, The Gurugram Home Developers Association suggested the old zoning plan, which mandated that property owners set aside adequate space in the front and back of the building to avoid untoward incidents and to beef up the safety net, should be reinstated or else, realtors will continue to endure significant losses.
The association has also shed light on the enormity of the situation pointing out that while the supply of homes in the form of floors has dropped majorly after the decision, several property owners and contractors are in a fix as they had furnished loans or invested money to construct the fourth floor before the ban was imposed.
The association has also raised the concerns of plot owners who constructed the fourth floor adhering to the compounding regulations of DTCP (Department of Town and Country Planning) and HSVP (Haryana Shahari Vikas Pradhikaran). However, the policy turnaround of the government by suspending the construction of the fourth-floor last year has put their investments at risk.
As the government is not showing a readiness to withhold the ban, home buyers are also dismayed by the possibility of their investments tanking down as hundreds of ready buildings in Gurugram are in an impasse without any occupation certificate (OC).
Proponents of the fourth-floor policy ban have often argued that sans the desirable infrastructural development, adding floors to residential plots puts an inexorable burden on the current set of amenities and civic utilities. In response to this, the Gurugram Home Developers Association has said that the infrastructure challenge in Gurugram City could find resolution through the allocation of the significant funds amassed as external development charges (EDC) by the government.
Narendra Yadav, President, Gurgaon Home Developers Association, commented, “"The lifting of the ban on constructing the fourth floor plus stilt on residential plots by the Haryana Government is imperative, as it will bolster independent floor housing, encourage responsible urban development, and safeguard the investments and aspirations of homeowners. Developers will also be relieved by the decision as they have already taken big-ticket loans and invested chunks of money in developing four floors. Simultaneously, hundreds of plot buyers will heave a sigh of relief who have invested in such residential plots and are waiting to move in after the OCs are issued.”
