Developers demand hike in affordable housing price cap from Rs 45 lakh to Rs 1 cr

  • | Monday | 19th August, 2019

Even as the prices of real estate keep skyrocketing, developers have now set their sights on the affordable housing segment, with the latest being a call to hike the cap on prices from the current Rs 45 lakh to Rs 1 crore. Earlier, CREDAI had submitted its recommendations to the Ministry, which also included amendments to RERA. are much higher in metros, so like the bifurcation in carpet area for metros and non-metros, the prices, too, need to be amended. This will give impetus to developers and act as a catalyst to boost affordable housing." Under RERA, affordable housing comprises units either costing up to Rs 45 lakh or units with a carpet area that does not exceed 60 sqm in metros and 90 sqm elsewhere

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