Rajasthan residential market offers the house possession in one day

1. Medium Get started ajeet Nov 21 ■ 3 min read Rajasthan residential market offers the house possession in one day Hit by the prolonged slump in realty market as well as the pushed to the corner by the private real estate developers, the Rajasthan Housing Board in the unprecedented move, is celling theproperty in Jaipur over the counter. This basically means that one can buy a Rajasthan Housing Board as well as take its possession in only a day. In the previous systems, the homes were allotted through draw of lots, and the buyers had to wait for results for the months. Under this scheme, Rajasthan Housing Board has basically short-listed in 565 apartments. The decision was certainly taken as the buyers were somewhat shown little interest in the Rajasthan Housing Board homes, which were pretty popular. The board has built numerous prestigious colonies in Jaipur which includes those in the Jawahar agar, Mansarovar, and Shastri Nagar. Due to the slump I the realty market as there were nearly 17,000 apartments across states, under the numerous Rajasthan Housing Board residential schemes which are obviously unsold. Through the open counters, the Rajasthan Housing Board is making the attempt to sell-out the inventory. All these homes failed to attract the buyers after 2014 as the Rajasthan Housing Board was selling some homes higher than the market rate even after the state was certainly the grip of the market slowdown. Established in the year 1970, Rajasthan Housing Board aimed at the providing homes on a no-profit-no-loss basis. In the recent past, however, because of various cases of corruption relating to the officials allegedly rising the rates in the connivance with contractors, the buyers have refrained among the buying Rajasthan Housing Board apartments. The unparalleled increase in the cost of the group housing scheme of the Rajasthan Housing Board was burning the holes in the pockets of the customers. The allottees of Rajasthan Housing Board schemes were pretty forced to provide the double amount in numerous schemes to take the possession. This was happening as contractors were delaying the projects.

2. The reports also suggest that there was a big difference in the rates that were quoted at time of the booking and during the time of possession. For example, in 2016, in Bhilwara, Rajasthan Housing Board has under the scheme which was announced apartments at Rs 16 lakh each for the middle-income group. The cost, however, of finished apartments went up to Rs 42 lakh. Various allottees have basically moved court over this. It may actually be noted here that, records, in past two years, the construction cost has gone up by 40 more. In various cases, there were rate differences of Rs 16 lakh for apartments in Mansarovar. At the time of booking Rajasthan Housing Board had actually Rs 38 lakh as well as when it was constructed, allottees were actually asked to pay Rs 54 lakh. Real Estate Property In Jaipur Flats In Jaipur Project In Jaipur Flats For Sale In Jaipur One clap, two clap, three clap, forty? By clapping more or less, you can signal to us which stories really stand out. Q 0 Follow ajeet Never miss a story from ajeet