Small housing projects will soon offer options to investors looking to buy homes in plotted colonies and group housing societies in Gurugram and Faridabad. This is because the state government has reduced the minimum area norms for residential and industrial colonies. The move, developers say, will help revive the ailing real estate sector.
As per the revised norms, the minimum area required for developing a residential plotted colony is now 25 acres for hyper, 20 acres for high, 15 acres for medium and 10 acres for low-potential zones. Earlier, it was 100 acres each for hyper and high, 15 acres for medium and 10 acres for low zones.
Similarly, the cap on minimum area required to procure licence for a residential group housing project has been brought down to five acres for hyper, four acres for high, two acres for medium and one acre for low-potential zones. Earlier, it was 10 acres each for hyper and high, two acres for medium and one acre for low.
For industrial plotted colonies too, the area norms have been revised to 25 acres for hyper, 20 acres for high, 15 acres for medium and 10 acres for low. Earlier, it was 50 acres each for hyper and high, 15 acres for medium and 10 acres for low.
And the minimum area norms for low density eco-friendly colony (one-acre farmhouses) has been revised to 25 acres from 100 acres.
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