Gurgaon: Affordable housing dream is slipping away for homebuyers. The promise of affordable housing is fast turning into a mirage for thousands of middle-class families in Gurgaon and Faridabad.For buyers, the situation is frustrating. “We have been waiting for affordable projects for years. But there are hardly any new launches. Whatever is available in the market is priced at Rs 2–3 crore, which is completely out of our budget,” said Rajesh Kumar Srivastava, a resident of Sector 70 who works in the private sector.The state’s flagship policy has failed to deliver new projects even as property prices soar beyond reach. The affordable housing policy was launched with the aim of offering budget homes to salaried professionals, young families and first-time buyers. But with no new projects being launched in the past two years, prospective homebuyers say the scheme has become a “paper promise” that offers little on-ground relief.Under the current policy, the govt has capped the maximum sale price at Rs 5,000 per sq ft in Gurgaon and Faridabad. However, rising land and construction costs have made it difficult for developers to build at these rates, resulting in a near-freeze in new project approvals. Officials in the town and country planning department confirmed that no new affordable housing licences have been issued in Gurgaon or the Gurgaon-Manesar master plan area over the last 18-24 months.For aspiring homeowners, the stakes are high. With market prices skyrocketing and affordable housing projects drying up, many fear they may be locked out of the property market altogether unless the policy is recalibrated soon. Another prospective homebuyer Abhishek Singh, a real estate consultant himself, said the intent behind the policy was good, but it has failed to keep pace with market realities. “If the govt fixes prices that developers cannot work with, then no one will build affordable homes. Ultimately, it is buyers like us who suffer,” he said.Industry experts say land prices in several sectors of Gurgaon have more than doubled in the last five years, while construction costs have risen by 25–30%. At current policy rates, a 600–700 sq ft flat costs around Rs 32–37 lakh, but developers argue that such pricing leaves little room for land acquisition, construction and timely delivery, leading to stalled launches.Piyush Garg, a prospective buyer from New Delhi, said the govt should urgently revise the policy. “The middle class depends on such schemes to buy their first home. If rules are not updated, affordable housing will remain only on paper,” he said.Homebuyers and industry bodies are now demanding that the govt revise the sale price cap by at least 25% and make the policy open and continuous to ensure a steady pipeline of projects. Developers say demand remains strong and that they would return to the segment if rates are aligned with ground realities.Chairman of ROF Group MS Mittal said the policy was framed with good intentions and has helped thousands of families own homes. “However, policies must evolve with market realities. Timely amendments are needed to encourage fresh investments and sustain developer interest,” he said.Joint managing director of Ganga Realty Vikas Garg said, “Rising land, construction and compliance costs have made affordable housing projects less viable in Gurgaon, leading developers to shift new supply to peripheral areas. Buyer demand is increasingly tilted towards premium and luxury homes along growth corridors like Dwarka Expressway and Sohna. Policy support is needed to revive affordable housing closer to major employment hubs and ensure balanced urban growth.“Another city based developer said demand for affordable housing in the Gurgaon, Faridabad and Sohna belt remains strong. “If the govt revises the pricing in line with rising land and construction costs, developers can re-enter the segment and revive new project launches,” he said.
