Govt lines up sops for affordable rental housing complexes including free FAR

New Delhi: Various incentives have been lined up for affordable rental housing complexes (ARHCs) that are proposed for the migrants and urban poor. These incentives include free floor area ratio (FAR) and lower rates of project finance, said Union minister for housing and urban affairs Hardeep Singh Puri while launching a government portal recently.

“To make this a lucrative and viable business opportunity for entities, the central government will provide concessional project finance under affordable housing fund,” he said,

The portal launched by Puri has the guidelines for such complexes.

He said state governments and Union Territories will grant use-permission changes and 50 percent additional FAR free of cost. There will also be single window approval for such complexes within a time period of 30 days. There will also be trunk infrastructure facility for ARHCs and municipal charges will be kept at par with that of residential property.