NAREDCO Maharashtra has called for reduction in premium for affordable and other categories of housing in the State. Sandeep Runwal, President, NAREDCO Maharashtra urged Atul Save, Minister of Housing, Government of Maharashtra during inauguration of HOMETHON Property Expo 2023 in Mumbai. Runwal claimed that the move would boost the Government’s ambitious ‘Housing for All’ program with focus on providing affordable housing to home buyers. He also emphasized upon NAREDCO's commitment to making home-ownership accessible to a wider segment of the population.
Dr. Niranjan Hiranandani, Chairman, NAREDCO, addressed the pressing issues in the housing sector during the event. He affirmed NAREDCO's commitment to recommending measures that make affordable housing more attractive. "Housing in Mumbai needs an impetus in structural policy skewed towards expediting the slum-free Mumbai movement and making it affordable for homebuyers. NAREDCO will continue to collaborate with all stakeholders to achieve these goals. We are pleased with the Central Government's commitment to affordable housing, as seen in the Pradhan Mantri Awas Yojana. However, the challenges remain, especially in the Mumbai region where there is a cap of Rs 45 Lakh for the housing. Unfortunately, with the ready reckoner rate by the Maharashtra Government and the market rates which are there, the minimum prices work out more than Rs. 45 Lakh. The affordable housing segment needs to be re-priced. Hence, we request the State Government and the State Housing Ministry should consider increasing the cap.”
