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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