The Uttar Pradesh Government is planning to provide a discount of 25% to reduce the pending stock of around 10,000 units in Ghaziabad and similar other projects to normalize the pricing and hasten the sale of the existing stock in the state. The above-said projects are mostly developed by the Ghaziabad Development Authority and UP Housing Board.
The process of implementation is being carried out in accordance with the guidelines on Model Costing – Basic Principles 2025, which have been launched in order to create uniformity regarding the costing of flats and plots developed by the development authorities and the housing board. The guidelines have been launched to correct irregularities pertaining to costing and make government housing more affordable.
According to officials, Ghaziabad alone has a significant stock of unsold units. GDA currently has 1,748 unsold flats spread across five housing schemes. The UP Housing Board, meanwhile, holds close to 8,000 unsold flats in the city. Of these, around 4,000 units are located in the Ganga Yamuna and Hindon housing schemes in Sidharth Vihar, while another 4,000 units are part of the Mandola housing scheme.
A senior GDA official said that earlier, there was a lack of uniformity in how development authorities calculated the cost of flats and plots. “To address this issue, the state government introduced the new costing guidelines. Following cabinet approval, the principal secretary (housing and urban planning) issued directions to all development authorities to implement them,” the official said.
Under the revised framework, the cost of housing units will be recalculated by factoring in land acquisition costs, internal and external development charges, and construction expenses. This recalibration is expected to reduce per-unit prices by up to 25% compared to current rates, depending on the project and category.
In addition to the base price reduction, the guidelines also provide additional rebates for prompt payments. Buyers opting for a one-time payment within 45 days will be eligible for a 6% rebate, while payments made within 60 days and 90 days will attract rebates of 5% and 4%, respectively.
Premium charges for preferred units have also been rationalised. Flats and plots with advantages such as corner locations, parking-facing positions, or those situated on 18-metre-wide roads will now attract a maximum premium of 5%, reduced from the earlier range of 8% to 10%. However, the combined premium for all such benefits will not exceed 12% of the base cost.
For GDA projects, current prices range from ₹5.7 lakh for EWS units to ₹69.4 lakh for larger homes across various schemes. The UP Housing Board’s inventory is priced higher, with 1 BHK units at ₹69.4 lakh, 2 BHK units at ₹87 lakh, and 3 BHK units priced at around ₹1.1 crore. The interest rate on EWS and LIG flats has been fixed at 8%.
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