Real Estate News

Rajasthan Housing Board Flats May be Sold at a 40% Discount

Rajasthan Housing Board Flats May be Sold at a 40% Discount

Monday, 25 Feb 2019

Here’s everything else you need to know about in this aspect.

Currently the board has stated that there are 11,349 unsold flats in the nine circles, including Jaipur, Jodhpur, Udaipur, Kota, Alwar, and Bikaner. This is a high number and before the numbers increase further it was important to sell out these flats, even if it meant cutting down the cost to some extent.

A RHB official said, “The deputy housing commissioners have now been instructed to send a proposal after reducing the land price. Lately it has been noticed that a wide gap has been created in the RHB rates and the market price. In this aspect the idea has been made really simple – to take the market price as a benchmark and then reduce the RHB price accordingly. Since the land prices of RHB are higher, it is being expected that the land price may fall down by 30 – 40%. However, the most number of rates are expected to fall down in the Kota circle.

Certain sources from the department have even gone ahead and stated that after the said discount, the consumers can purchase the Rajasthan Housing Board Flats at ₹ 8 Lac – ₹ 10 Lac lesser rates.

In 2017, RHB shortlisted properties (flats of different sizes) in Pratap Nagar, Jaipur, for selling over the counter. Unlike the earlier system of allotting houses through draw of lots, wherein buyers had to wait for months, people can purchase RHB houses and take possession in a single day, after depositing the house cost at the counter.

In the last two years, the cost has been raised by more than 40%. For instance, cost of MIG–B category flats has gone up to ₹ 15 Lac to ₹ 20 Lac in posh locality such as Mansarovar. A flat which was priced at ₹ 45 Lac is approximately ₹ 65 Lac now.

This huge change and discount will add more people to this list of buyers and property options will improve too.

Let’s see how this change does in the future.

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