TORONTO: Ontario government has put forward a new housing plan, “More Homes Built Faster Act,” that aims to construct 1.5 million homes by 2031.
An Ottawa-based think-tank released a report titled “Ontario’s Need for 1.5 Million More Homes”, stating that the province faces a housing shortage of one million homes and an additional one million will be required as the province grows.
According to details, 48% of the demand will be concentrated in three cities namely Toronto, York Region and Peel Region.
Estimates suggest that the largest housing demand is in Peel Region with 277,000 housing requirements. This is followed by Toronto and York with 259,0000 and 180,000 housing needs respectively.
In addition, Toronto has approved 28,000 homes per year that are to be constructed over the next five years. 15,000 units per year, on average, have been previously constructed.
The proposed legislation further claims that development charges will be reduced for rental construction. Further discounts of up to 25% will be offered for family-sized units.
For news and blogs, visit Graana.com
Rawalpindi: The Rawalpindi Development Authority has said that the long-awaited Rawalpindi Ring Road project is…
Here is a concise, professional rephrased version of the news: Saudi Arabia Approves Regulatory Sandbox…
Islamabad: Chairman of the Capital Development Authority (CDA), Muhammad Ali Randhawa, chaired a high-level meeting…
The 19th Real Estate Development Summit Saudi Arabia – Luxury Edition concluded after two days…
Islamabad: The Shaheen Chowk underpass is expected to be inaugurated next week after nearing completion,…
Dubai’s luxury real estate market has reached a new milestone in 2025, with a prime…
Welcome to Graana Blog - Pakistan’s Smartest Property Portal!
For more than a decade our intention has been to revolutionise the real estate industry in Pakistan. The same belief drove the vision of our real estate team, Graana where quality beats quantity.
We have introduced an extremely transparent and purposeful portal where we will help you buy, rent or sell your property. A place where you can sit back relax and let us market your projects and listings. We believe we have set new standards for the future of real estate in Pakistan by providing the smartest property portal.
