Cabinet approves MP Housing Redevelopment Policy-2022

| | bhopal
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Cabinet approves MP Housing Redevelopment Policy-2022

Wednesday, 07 December 2022 | Staff Reporter | bhopal

Urban Development and Housing Minister Bhupendra Singh has informed that Madhya Pradesh Housing Redevelopment Policy-2022 has been approved in the Cabinet meeting here on Tuesday.

In the policy, new construction of dilapidated buildings is proposed without any charge from the beneficiaries. All the cities of the state will be included in this. In the policy, 30 years old public and private housing schemes or the housing schemes which have been declared dilapidated, can be newly constructed. Now new and better houses can be built in place of dilapidated houses.

No charges will be payable for conversion from leasehold to freehold. In projects being taken up for redevelopment, the developer will be exempted from depositing (Shelter Fee/Additional Shelter Fee) for weaker sections (LIG/EWS) under Rule 10 of the Madhya Pradesh Municipality (Colony Development) Rules, 2021 and mortgaging the property or furnishing bank guarantee in Rule 13.

In redevelopment projects, 50 percent (1:0.5) additional FAR will be given over the FAR prescribed in Rule 42, Table 4 and Table 5 of the Madhya Pradesh Land Development Rules, 2012. Ground coverage of 40 percent will be valid. For essential shops in residential complexes, instead of 5 percent of the total FAR, 7.5 percent of the area will be acceptable.

The stamp duty of the agreement on the property to be sold by the developer or the implementing agency in the redevelopment agreement proposed in the redevelopment policy will be 0.25 percent instead of 5 percent of the market value.

Redevelopment beneficiaries-beneficiaries will be given registered possession/ownership certificate for the concerned redevelopment unit at the cost of one thousand rupees per certificate. No registration will have to be done again.

The Empowered Committee headed by the Chief Secretary will be able to take the decision to change the land use.

The land of the scheme will be used by dividing into two parts.

Construction of redeveloped units for the beneficiaries on one part and the other part will be used by the developer as a compensatory component. Without dividing the land of the plan, that is, redeveloped units and compensatory components can be constructed on the land of the plan itself. Beneficiaries will be shifted from the scheme and redeveloped units will be constructed on other land. The scheme will be used as a compensatory component.

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