Budget 2012: Develop Special Residential Zones, says DTZ
The central government should consider extending benefits, in lines similar to Special Economic Zones (SEZs), to notified mass housing / residential townships.
By Agencies | Updated:
NEW DELHI: The demand for low end and mid-range residential units in major tier 1 and tier 2 cities significantly outstrips the existing and upcoming supply. However, most developers have limited their exposure to this segment owing to low profit margins and larger economies of scale.
Suggestion:
>> The central government should consider extending benefits, in lines similar to Special Economic Zones (SEZs), to notified mass housing / residential townships. Tax concessions coupled with relaxation in development norms (eg. Floor Space Index) will make development of such projects attractive and viable from developers’ perspective.
>> Such an initiative will also help in creating new nodes of developments in the peripherals of the city and ease existing pressures on the city’s support infrastructure.
When implemented, such initiatives will significantly reduce the cost and give access to housing to a much larger section of the population at affordable prices.
Suggestion:
>> The central government should consider extending benefits, in lines similar to Special Economic Zones (SEZs), to notified mass housing / residential townships. Tax concessions coupled with relaxation in development norms (eg. Floor Space Index) will make development of such projects attractive and viable from developers’ perspective.
>> Such an initiative will also help in creating new nodes of developments in the peripherals of the city and ease existing pressures on the city’s support infrastructure.
When implemented, such initiatives will significantly reduce the cost and give access to housing to a much larger section of the population at affordable prices.
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