Good news for those who were longing to buy a house but remain clueless due to skyrocketing of housing prices, as leading realtors' body
Confederation of Real Estate Developers' Association of India (CREDAI) has
asked its members to consider selling off maximum inventories by
reducing prices.
"The developer community is willing to consider the suggestions made by
the Finance Minister P Chidambaram to unlock the value of the unsold stock. We
have asked our members across the country to seriously consider the proposal to
sell (the unsold stock) in maximum numbers," Credai national president
Lalit Kumar Jain said in a statement.
The governing council of Credai had met at Kochi over the weekend where it
was decided to consider the suggestion to sell maximum number of housing units
by reducing the prices to the extent possible, it said.
Earlier, the developers' apex body had refused to offload the inventories at
discounted rates saying that realtors would not be able to reduce the prices as
they have invested heavily in the projects.
Meanwhile, Credai has also appealed to the finance ministry to look into the
suggestions made by it to revive the real estate industry to rejuvenate the
economy slow down, Jain said.
"We are happy at the positive manner in which the ministry has mooted
proposals to help the developer community.
We are confident that it will also positively respond to the various
constructing suggestions made by us," he said.
Credai has made certain suggestions including single window system of
clearances to speed up the process, asking banks to reduce rates of interest
for projects and buyers as well and create a congenial atmosphere to encourage
affordable and mass housing, the release said.
Besides, the realtors' body has also suggested declaring housing sector as
infrastructure or industry, provide certain tax exemptions, setting up of a
comprehensive realty regulator and to provide special incentives for skill
development, among others.
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