Bihar Deputy Chief Minister Sushil Kumar Modi today said that the new building bylaws will get the state cabinet's nod by the end of this month.
In order to make housing available to all by 2022, the state government has decided to extend the Floor Area Ratio (FAR) by 15 per cent to builders by amending the 'Affordable Housing and Slum Rehabilitation and Redevelopment Housing Policy', Sushil Modi said.
He said this while addressing the national executive meeting of Confederation of Real Estate Developers' Associations of India (CREDAI), which is the apex body of private Real Estate developers across the country.
Stating that builders have been given big relief under Ashrya Nidhi, he said that builders will now have to deposit Rs 1 lakh, Rs 4 lakh and Rs 8 lakh for 500, 2000 and 4000 square meter land respectively against the earlier amount of Rs 10 lakh, Rs 40 lakh and Rs 80 lakh.
Under the new building bylaws, the approval for map for carrying out construction on a plot measuring 300 square meter with building height of up to 10 meters will get immediate approval, said Sushil Modi who is also the state's Finance Minister.
There would be no bar on the height of houses to be built on 30 feet wide old road and 40 feet wide new road given the density of population, he said.
Besides, the state government would also simplify the procedure to realise labour cess from construction companies, the DyCM said.