What is the difference between Group housing and Township and where we should invest .
I am a member of Anshul CGHS Ltd. Sec-2 HUDA Palwal. I want to sell my membership.
Group Housing has become famous after HUDA launched the concept in 2008. The policy envisaged allotment of land to eligible registered cooperative group housing societies and welfare housing organisations for development. Under the scheme, out of over 500 plots of half-acre each, a certain percentage will be reserved for the economically-weaker sections, central government employees and defence personnel.
The categories eligible included societies or welfare housing organisations comprising members who either belong to Haryana or are residents of Haryana or were working in the state or Chandigarh for the last one year before allotment. The scheme envisaged a minimum of 20 and a maximum of 90 members for the group housing society.
HUDA initially alloted housing sites to cooperative group housing societies registered with the Registrar, Co-operative Societies, Haryana and the Welfare Housing Organisations registered with the Registrar (Firms and Societies). But today we have companies like DLF, Indiabulls too getting Group Housing licenses allotted to them under the Group Housing scheme.
What needs to be kept in mind is that Group Housing licenses carry with them both incentives and penalty clauses in the construction of flats. For e.g, on launch of the scheme the Policy said that - If the construction is completed within three years of the date of offer of possession, a rebate of 10 per cent on the price of land (adjustable towards the future installments) shall be given. However, if construction is not completed within five years, an extension fee will be charged for the extended period.
Unlike Group Housing the Township projects are not subsided & preferred land allotments by the government.
The township format, although it’s been around for a while, is still not a unified one across the country. This lack of common definition means that today there are projects that are calling themselves ‘townships’ mushrooming all over the city outskirts.
What is however agreed upon by a majority of the players in the industry, is that a township comprises of complexes built in large areas of land with major open spaces and with all facilities including schools, hospitals, shopping malls, gymnasium, health spa etc. within the project. The land area can vary from 10 acres to 2,500 acres but an average area of 100 acres is taken as a benchmark with regards to extent. However, individual state governments and planning authorities have specified key prerequisites for a project to be called a township. Some of which are minimum road width, percentage of land usage, etc. as specified by the authorities.
Depending on size, a township project is expected to provide certain social infrastructure and ancillary facilities as well. Projects larger than 1,000 acres, be called “integrated townships”, since they are basically self-sustaining in nature with hospitals and schools mandatorily present in the layout.
WHERE TO INVEST..
If looking at investing in either of them then it is always advisable to invest in a property which fits your requirements(location from office/budget/future appreciation etc) and which has all basic amenities(school/supermarket/bank/atm/hospital/nursing home/pharmacy) within campus – irrespective of it being a Township or Group Housing.