It will stop builders from charging exorbitant per square feet price from buyers.
Jaipur: The Rajasthan government is planning to put a cap on the maximum price per square feet for flats that builders sell under the Chief Minister Jan Awas Yojana. Builders won’t be able to charge more than Rs 2200 square feet for a float even if an apartment building is located in a posh colony or in a high-demand area within a city.
The government has taken this decision after frequently receiving complaints that builders were charging exorbitant per square feet price from buyers. Some builders were listing flats for more than Rs 3000 square feet which beats the purpose of affordable housing.
All builders who have their projects approved under Jan Awas Yojana will have to abide by these directions. The urban development and housing department (UDH) has sought approval from the minister in this regard. The limit may come into force in the next seven days.
The government has already provided several reliefs to builders to encourage them to come up with affordable housing projects.