If you are thinking of making an investment in Prayagraj, there is some good news! The Prayagraj Development Authority (PDA) has released a new policy that allows people building houses on plots not exceeding 100 square meters to avoid the expensive map approval process. It would save these people around ₹1.25 lakh, helping lower-middle-class families reach their goals of building their home.
What’s the New Rule and Who Benefits?
Recently, the cabinet approved some modifications to the new Building Construction and Development Byelaws 2025, which will allow individuals to construct houses without having to get the building plan approved if the plot size is a maximum of 100 sq. meters. This change will help those that are short on budgets to build houses or purchase property in Prayagraj – with less paperwork, posting fees, and possible delays in approvals tremendously helpful.
Previously, applicants had to get the maps passed, complete different dedicated tasks, and pay various development fees, which took valuable time and time is money! Now 70 applicants each month mainly from the particular and much needed middle-income sector will benefit from this change.
How Will This Impact Flats in Prayagraj?
This will likely lead to more affordable housing becoming available. This will only apply to homes with wide roads nearby or in an approved residential area. No additional open space or setback rules will apply to those generally. So for buyers looking for flats, look out for more options in terms of access and affordability in the market. This will also contribute to faster construction making buying a home easier for the family without delays or unexpected costs.
Why Is This a Big Opportunity?
The new rule is also expected to boost small-scale construction in the city. Local builders and first-time home buyers can now get started without delay. With less paperwork and no fee, their job is much faster and easier. This could lead to growth in interest for land and flats in Prayagraj. In addition, it will create more jobs in construction and construction-related services, bolster the local business community, and give more people the opportunity to build their dream homes.
Conclusion
If you’ve been considering investing in property, now is your time. Whether you intend to build your own house or are interested in buying flats in Prayagraj, this policy simplifies things for both builders and buyers, especially buyers looking for budget flats.
Source: https://timesofindia.indiatimes.com/city/allahabad/no-more-building-plan-approvals-needed-for-small-plots-in-prayagraj/articleshow/122303380.cms
