The Rajasthan Housing Board is planning to sell apartments, flats at a discount of 75 percent. The deputy housing commissioners of the Kota circle proposed to sell residential units at a flat discount of 75 percent in the Chippa Barod, Baran locality.
Under this rebate, 196 dwelling units measuring approximately 30 square metre will be sold.
One of the officials at the Rajasthan Housing Board said that we are surprised to know about a proposal to sell residential units flats on 75% discounted rates. The agency has to check the provision to examine whether this rebate is possible to offer or not. However, the officials at the Kota division informed that the residential units in this area are built in an unplanned planner and hence we have to offer a discount as there would be no takers for these units without huge rebate.
The RHB planned to offer huge discounts on the unsold inventory and presently, there are over 24,000 unsold flats in its circles that include Jaipur, Jodhpur, Kota, Udaipur, Alwar and Bikaner.
The official of the Rajasthan Housing Board also said that the deputy housing commissioners were ordered to forward the proposal after deducting the land cost. A number of its divisions had submitted the same.
Recently, the unit price of the RHB and the market price witnessed a huge gap. Thus, the housing board has decided to adopt the market rates as a benchmark and also planned to cut the housing unit value in accordance with the same.
The residential value is expected to come down by 30-40% in regard with the Rajasthan housing board.
Shanti Dhariwal, the urban development and housing (UDH) minister issued directive while considering the prolonged slump in the real estate market and also took the notice of home buyers least interest in the residential properties of the Rajasthan housing board as most of them remains unsold.
Earlier, the RHB tried multiple ways to sell these flats but nothing could attract the home buyers.
In 2017, the Rajasthan Housing Board shortlisted properties in Pratap Nagar, Jaipur for sale. However, earlier, the applicants had to wait for months for the allotment of dwelling units via draw.