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Punjab cabinet approved a first-of-its-kind policy on rental housing
Posted on 25th Jan 2018 13:39:24 in Finance
Punjab Cabinet on Wednesday approved the first kind of policy on rental housing for students, corporate professionals, senior citizens and the convenience of suitable accommodation for the migrant. This policy will be beneficial for the students and the elderly people seeking affordable rental housing in the state.
The cabinet also authorized chief minister Amarinder Singh, who is also holds the urban development portfolio, to approve any amendment to the policy, if required in future, without putting the amendment before the council of ministers.
The policy also provides change of land use, external development charges (EDC) and permission fee to be payable at 50% of the charges as applicable to residential plotted development.