A senior official said deadlines will be set for the projects.
“Proposals will be decided on first-come-first-serve basis. Developers will have to furnish bank guarantees of 15 per cent of the total realisation from projects in Gurgaon, Faridabad, Panchkula, Panchkula Extension and Kalka-Pinjore. It will be 10 per cent in other areas,” the official said.
As incentive to developers, there will be no licence fee and infrastructure charge for these projects. The floor area ratio will be 225 as against the 175 permitted in group housing projects. Ground coverage will be 50 per cent as against the usual 35 per cent.
Applications have already been received for 86 projects and more developers are in the queue, the official said. Of the applications, 50 are for projects in Gurgaon alone. Other applications include 14 for projects in Sohna, 10 in Faridabad, three each in Jhajjar, Palwal and Rewari, two in Karnal and one in Nilokheri.
The DLF Ltd and Emaar MGF are among the developers who have shown interest in taking up these projects.