Realty prices soar in Jammu

Buying plot or flat beyond reach of middle class

Realty prices soar in JammuRapid urbanisation and increasing population in Jammu city, which has touched the 15-lakh mark, have made it nearly impossible for the middle class to own a plot or flat.
“Prices of plots and flats have gone up alarmingly. While the price of a one-marla plot in areas like Sainik Colony Extension, Trikuta Nagar and Greater Kailash is between Rs 4 lakh and Rs 10 lakh, a two-BHK or three-BHK flat costs between Rs 50 lakh and Rs 80 lakh,” says Raj Kumar Sharma, a government employee, who has been looking for a viable option for his family.
Even if one plans to purchase a plot of at least six marla at the cost of Rs 4 lakh per marla, he has to cough up a hefty amount of Rs 24 lakh and then bear the cost of constructing a house, he adds.
Sharma says he has been scanning outer limits of Jammu city to come across either a plot or flat constructed by various developers that suits his pocket.
Rajesh Gupta, who works with a private company, sarcastically says, “It seems that the common man has neither a plot in horizontal, nor a flat in vertical scheme of building. He has to hang in limbo.”
In February 2014, former Chief Minister Omar Abdullah had said going by the quantum jump in population, the time was ripe for a paradigm shift from horizontal to vertical construction so as to ease the pressure on land in congested cities and towns.
Ashok Kumar, real estate dealer, says, “While old Jammu city is bursting at the seams and has no space for raising residential houses, new colonies being developed on the outer limits of Jammu city are a costly affair for the middle class.”
On February 18, Governor NN Vohra viewed the preparation of the revised Master Plan-2032 for Jammu, which had been prepared keeping in view provisions under the J&K Development Act, 1970. He laid emphasis on an increase in Jammu city limits from 305 sq km to 652.32 sq km.
The draft Master Plan-2032 emphasises increase in the limits of Jammu city by increasing its area from 305 sq km as envisaged in the Master Plan-2021 to 652.32 sq km to cover an estimated population of 20.5 lakh.
The revised master plan proposes inclusion of 103 additional villages of Jammu and Samba districts as part of Greater Jammu.

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