Before 2019 the Haryana government had only allowed the floor builders to build 3 floors on each plot, along with that if a building had four floors, the floor couldn’t be put up for sale as the builders could not register the fourth floor as an independent dwelling floor, but after a few changes in the rules and regulations made by the DTCP, builders can now finally sell their fourth builder floor in Gurgaon. However, there are a set of rules that the builders need to follow in order to make their fourth floor a selling property.
What rules need to be followed to sell the fourth floor in Gurgaon?
DTCP has introduced several rules that a builder needs to follow in order to make the sale of their fourth-floor viable. The authority has introduced rules that benefit all owners and make possession easier and fair for all. Some of these rules are:
No fragmentation of the plot: To keep it fair for all owners, the DTCP has issued a rule mentioning that all plots that are developed into builder floors will have no fragmentation of the said plot. All owners will own the plot equally and will not be fragmented unfairly.
Mandatory stilt parking: For all Builder floors viable for sale in Gurgaon, it is mandatory that the building has stilt parking for all its residents and should have enough parking space according to the number of floors in the building.
Equally proportioned apportionment of land cost: DTCP has put due attention to the apportionment of land cost making sure that the land cost is equally proportioned amongst all owners as per the number of floors in each building. 50% for 2 floors, 33 and ⅓% for 3 floors and 25% for 4 floors.
What are the changes in the building structure that are supposed to be made due to the approval of the sale of the fourth builder floor?
Addition of stilt parking: As per the rules set by the deciding authority, all builder floors with four floors need to have a stilt parking to give all residents enough space for parking their vehicles according to the size of the property.
Mandatory lift service in the building: It is mandatory for all buildings with four floors to have a lift service in the building for its residents. This is to ensure that all residents including the elderly living in the building are able to easily access the building floors as and when required.
Building height restriction: All buildings with over three floors need can only be 54 feet tall. If a builder wants to build a housing unit that is taller than 54 feet, they need to get a No Objection Certificate (NOC) from the state fire department and structural stability and strength department by a certified professional to account for the height increase as a legal construction.
How does this rule affect the real estate prices in Gurgaon?
Due to the introduction of this rule, the prices of plots in Gurgaon have shown an increase in pricing as it enables the builder to build an extra floor and put it up for sale. With the added facilities such as lifts and stilt parking, builder floors are much popular amongst investors due to the compactness and ease they offer to the owner.
Builder floors provide people looking to buy independent housing a way to save money while getting added facilities as well. Buying a builder’s floor in Gurgaon is said to be a favorable investment. And on top of that, it is in the owner’s interest to put up their builder floors for rent as it generates great income and has a high probability of getting rented as well.
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Before 2019 the Haryana government had only allowed the floor builders to build 3 floors on each plot, along with that if a building had four floors, the floor couldn’t be put up for sale as the builders could not register the fourth floor as an independent dwelling floor, but after a few changes in the rules and regulations made by the DTCP, builders can now finally sell their fourth builder floor in Gurgaon. However, there are a set of rules that the builders need to follow in order to make their fourth floor a selling property.
What rules need to be followed to sell the fourth floor in Gurgaon?
DTCP has introduced several rules that a builder needs to follow in order to make the sale of their fourth-floor viable. The authority has introduced rules that benefit all owners and make possession easier and fair for all. Some of these rules are:
What are the changes in the building structure that are supposed to be made due to the approval of the sale of the fourth builder floor?
How does this rule affect the real estate prices in Gurgaon?
Due to the introduction of this rule, the prices of plots in Gurgaon have shown an increase in pricing as it enables the builder to build an extra floor and put it up for sale. With the added facilities such as lifts and stilt parking, builder floors are much popular amongst investors due to the compactness and ease they offer to the owner.
Builder floors provide people looking to buy independent housing a way to save money while getting added facilities as well. Buying a builder’s floor in Gurgaon is said to be a favorable investment. And on top of that, it is in the owner’s interest to put up their builder floors for rent as it generates great income and has a high probability of getting rented as well.