Mumbai: The National Real Estate Development Council (NAREDCO) Maharashtra, a representative body of real estate industry in the state, has asked for a reduction in premiums for affordable and other categories of housing.
Responding to the plea at the inauguration of a real estate exhibition in Mumbai, deputy CM Devendra Fadnavis said the government “genuinely considering it” but added that he could not say when it would be given.”Fadnavis said right now it’s a very difficult situation to take such decisions.Many times the decisions are genuine but motives are challenged,” he said.
Niranjan Hiranandani, NAREDCO chairman, said in the Mumbai region there is a cap of Rs 45 lakh for (affordable) housing. “Unfortunately, with the ready reckoner rate by the Maharashtra government and the market rates which are there, the minimum price works out more than Rs 45 lakh. The affordable housing segment needs to be re-priced. The state government and the housing ministry should consider increasing the cap,” he said. tnn
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Responding to the plea at the inauguration of a real estate exhibition in Mumbai, deputy CM Devendra Fadnavis said the government “genuinely considering it” but added that he could not say when it would be given.”Fadnavis said right now it’s a very difficult situation to take such decisions.Many times the decisions are genuine but motives are challenged,” he said.
Niranjan Hiranandani, NAREDCO chairman, said in the Mumbai region there is a cap of Rs 45 lakh for (affordable) housing. “Unfortunately, with the ready reckoner rate by the Maharashtra government and the market rates which are there, the minimum price works out more than Rs 45 lakh. The affordable housing segment needs to be re-priced. The state government and the housing ministry should consider increasing the cap,” he said. tnn
We also published the following articles recently
It is boom time for real estate sector in capital city
Between 2021 and November 2023, Thiruvananthapuram has seen the launch of 88 projects with over 6,000 residential units. The number of residential units launched in the city grew by 44% between 2021 and 2023, despite a dip during the pandemic. The surge in demand has led to an increase in prices, with super luxury flats selling for as high as Rs 12,000-13,000 per sq.ft. The increase in rental value and the emergence of commercial infrastructure are driving the demand. People are seeing around 20% appreciation from real estate investment in Thiruvananthapuram.
Between 2021 and November 2023, Thiruvananthapuram has seen the launch of 88 projects with over 6,000 residential units. The number of residential units launched in the city grew by 44% between 2021 and 2023, despite a dip during the pandemic. The surge in demand has led to an increase in prices, with super luxury flats selling for as high as Rs 12,000-13,000 per sq.ft. The increase in rental value and the emergence of commercial infrastructure are driving the demand. People are seeing around 20% appreciation from real estate investment in Thiruvananthapuram.
Sebi to oversee online platforms offering fraction real estate assets
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SEBI board to regulate online platforms offering fractional ownership of real estate assets; platforms to be registered under small and medium reits framework. Fresh investments by alternate investment funds to be held in demat form from Sept. 2024. Concerns raised about investors losing money in equity derivatives trading. SEBI approves rules for index providers and will regulate significant indices used by market participants in India.