Gurugram Real Estate business
A recent policy change in Gurugram, allowing homeowners to add a fourth floor to their residential properties, has created an unexpected and lucrative side hustle for their neighbors. This new “Stilt + 4” rule, aimed at tackling the city’s housing crunch, has led to a fascinating and entirely legal marketplace where a simple signature can be worth lakhs of rupees.
The Price of a Signature
With a new fourth-floor unit potentially fetching up to ₹4 crore, property owners are cashing in on their power to grant or withhold a No Objection Certificate (NOC) from their neighbors who wish to build. Reports indicate that some residents are demanding as much as ₹40 lakh—a hefty 10% of the potential profit—in exchange for their consent. Without this crucial NOC, builders are forced to leave a significant 1.8-meter setback, which can drastically shrink the project’s size and profitability.
A Legal Gray Area?
While some have labeled this practice as “soft extortion,” it is, in fact, perfectly legal. There are currently no regulations that cap the amount a neighbor can demand for their NOC. This has transformed quiet residential areas into high-stakes negotiation tables, where the art of the deal is playing out between neighbors.
Urban Growth and Community Capitalism
This unique situation in Gurugram highlights the unintended consequences of urban development policies. While the “Stilt + 4” rule is a practical solution to increase housing density, it has also raised questions about community, capitalism, and the evolving nature of neighborly relations in India’s rapidly growing cities. Legal experts confirm that these transactions are above board, but the moral and ethical implications continue to be a subject of heated debate.
Source : Businesstoday
