Affordable housing cap needs rethink, says Credai's Shekhar Patel

The Credai president said that while the size limits of 60 square meters for metro cities and 90 square meters for non-metro cities were generally acceptable, the price cap was deterring developers

With escalating housing costs, the government should reconsider the ₹45 lakh cap defined by the government for affordable housing, which was last set in 2019, said Shekhar Patel, president of the Confederation of Real Estate Developers Associations of India (Credai).

 

“The ₹45 lakh home in 2019 has now become ₹75 lakh, according to the Reseve Bank of India’s housing price index and other data that show that the costs have escalated. There should not be a price limit,” Patel, who is also the managing director of Ahmedabad-based Ganesh Housing Corporation, told Business Standard.

 

The Credai president said that while the