Haryana opens door for commercial units in licensed colonies

31 Aug 2023 CW Team

Haryana residents are on the brink of a transformative opportunity as the state approves the registration of independent floors within licensed colonies as commercial entities. A provision that was previously limited to residential units now extends to the commercial sector, marking a strategic shift in urban development.

The Haryana Development and Regulation of Urban Areas (Second Amendment) Bill, 2023, modifies Section 3-C of the act and has garnered approval from the state assembly. Notably, this amendment restricts registration to one residential or commercial unit per floor.

Anticipated to significantly attract professionals, this move empowers them to acquire personal office spaces or business locations on independent floors. Chief Minister Manohar Lal highlighted that while registration of independent floors as commercial units in licensed colonies was previously limited to sectors developed by the Haryana Shehri Vikas Pradhikaran (HSVP), this legislation aligns those in private ventures with equal opportunities.

The decision, a boon for private builders with "shops-cum-offices," opens avenues for developers to efficiently manage their inventory. Pradeep Aggarwal, founder of Signature Global (India), commended the government's progressive move, emphasising its potential to stimulate investment and business growth. This dynamic shift signifies the state's commitment to fostering a conducive business environment while ensuring urban development remains efficient and all-encompassing.

This reform's implementation is set to unleash business, investor, and entrepreneurial potential. The flexibility it offers holds the promise of attracting both domestic and international enterprises, further elevating Haryana's stature as an investment haven.

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