The realty sector also expects the government to increase the cap on affordable housing units from ₹45 lakh to a higher bracket depending on the city size. They also want the carpet area cap for such properties be increased from the current 60 square metre in metro cities and 90 sq m in other cities to higher limits.
The affordable housing segment has been facing a double whammy in the last few years.
While sales have taken a hit due to high loan interest rates, developers have also been moving away from the segment due to a surge in the sales of premium properties, high input costs and lower margins in the segment.
The category saw its share in overall sales decline to nearly 20% in 2023 from over 30% in 2022 and nearly 40% in the period before the pandemic. In the top 7 cities too, its share fell to 18% in 2023 from nearly 40% in 2019, according to Anarock Property Consultants.
Denne historien er fra January 16, 2024-utgaven av Financial Express Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Denne historien er fra January 16, 2024-utgaven av Financial Express Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
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