Reforms in realty sector, untouched by budget 2013

Budget 2013 has failed miserably to bring in any reforms in the realty sector. Many reforms like real estate regulatory bill and so on, were expected by the experts.
Reforms stood away from realty sector

All expected reforms also stood away from realty sector.

The budget 2013 was expected to boost realty sector in many ways. Many reforms like real estate regulatory bill, infrastructure status at least to the affordable housing sector, etc. were the main reforms which realty sector expected from the budget 2013.

Leading realty players to greater despair and mischief, none of these reforms were included in the budget.

The main focus was on the lower and middle income segment people and affordable housing segments. On the other side the budget did not forget to levy heavy burden on the shoulders of the top earners.

The affordable housing segment may be boosted as the budget includes some sort of boosts to the sector. However the budget is expected to affect the luxury housing segment inversely. After the budget, the prices for luxury houses are expected to rise sharply. Continue reading

FSI Policy In Mumbai Has To Be Reviewed; Maken

Union housing minister Ajay Maken said that the FSI policy in Mumbai must be reviewed. He said that only by revising the FSI policy is necessary for developing affordable houses.
FSI policy in Mumbai likely to be reviewed

FSI policy in Mumbai likely to be reviewed.

Union housing minister Mr. Ajay Maken said that the FSI policy in Mumbai as well as in all the mega cities of India must be reviewed. He added that the builders will be able to develop more affordable houses, if the Floor Space Index is raised.

There is a possibility for all the major cities of India to have taller skyscrapers in future. If the FSI policy is revised and the FSI rate is raised, then the mega cities like Mumbai and Bangalore will have taller residential development. In fact vertical development is comparatively less costly and so the buyers may be able to get homes at affordable rates. Continue reading