Two-bedroom apartments for EWS at Rs 75 lakh

Housing

To own a flat at MDC, Sector 6, just get affidavit of 'not filing I-T returns'... plus of course the cash

Ironic but true. You need both cash and an EWS certificate to own a dream home near the Shivalik foothills in Panchkula. If a Rs 52 lakh one-bedroom studio apartment at Pride Asia, the joint luxury venture of Chandigarh Housing Board and Parsvnath, was till now the benchmark at prime Rajiv Gandhi Information Technology Park in Chandigarh, get updated.

A two-bedroom apartment in two societies for economically weaker sections (EWS) — located a stone's throw from Pride Asia—- in Panchkula's Mansa Devi Complex, Sector 6, are selling for a whopping Rs 75 lakh. Out of the six group housing societies allotted land by the Haryana Urban Development Authority (HUDA) in 2001-02 in Sector 6, MDC, two societies, Yuva and Manav Hut, were allotted an acre each for Rs 1.3 crore under the EWS category.

Ten years hence, many of the original EWS members of the 80 flats in Yuva EWS Society who paid Rs 2 lakh towards the land cost have either sold them off or are eager to sell. "In 2001, when we had registered the society, many of us had to take loans to pay for the cost of the two-bedroom apartment, which in books stands at Rs 19 lakh, including Rs 2 lakh as land cost and Rs 17 lakh as cost of construction. In 10 years, the Chandigarh IT Park has made the area a realty hotspot. The EWS members who need the money more than the flat are quoting upto Rs 80 lakh. Its like a lottery. Some poor families have become millionaires overnight," says Dharmendra Kharub, president of Yuva EWS Housing Society.

Incidentally, to buy the Rs 75-lakh flat one has to prove his economically weak credentials. Since the societies have to update their list of members with the Registrar, Cooperative Societies, Haryana, an EWS share cannot be sold to a non-EWS. "Since, its an EWS Society, the new member has to submit an affidavit to the tehsildar that he does not file income tax returns who in turn issues him an EWS certificate. If someone is not working or is not in the high income group, he can show himself as EWS while his family or friends can fund him. After the construction is completed, it will be an EWS society just in name," adds Kharub, who is executing the construction of Yuva EWS Society and has a black sedan parked outside it.

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