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. To that end, the National Real Estate Development Council (Naredco) submitted its recommendations to the central government's Finance Ministry and sought several exemptions — one of them to hike the affordability cap for metros, as they claim there is a premium cost of land and construction in metros. Earlier, CREDAI had submitted its recommendations to the Ministry, which also included amendments to RERA. Confirming the recommendation, Ashok Mohnani, Chairman, EKTA World, and Vice President, Naredco, said, "Increase in the affordable housing limit in metros is now imperative as it will bring more projects and locations under the affordable ambit and of course, a larger section of the population will benefit. Premiums, cost of construction, land cost, etc. 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." WHAT’S AFFORDABLE? 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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