Gujarat realtors withdraw stir as Govt cuts jantri by 50 per cent
Real estate developers across Gujarat have withdrawn stir as the government decided to give a 50% relief on increased jantri rates.
Real estate developers across Gujarat have withdrawn stir as the government decided to give a 50% relief on increased jantri rates.
The rollback on jantri rates has been welcomed by land developers and builders as well as the Opposition Congress, which claimed the government had given in to public sentiment.
Real Estate developers in Gujarat are unanimous to protest against the revised jantri rates. Even after their talks with the Government on Monday they have announced that they will continue their protest by not executing any sale deeds till May 5.
Around 1,000 developers will be flying to Singapore to attend a two-day knowledge-sharing event on March 28 and 29.
Real estate developers are trying to change perceptions. A new team of office bearers which took charge at the Confederation of Real Estate Developers’ Associations of India (CREDAI) has announced to work on a set of measures that will help builders deliver projects on time, redress customer grievances and improve governance to change image and perception of the sector.
Confederation of Real Estate Developers’ Associations (CREDAI) Tamil Nadu unit has said that enquires for commercial real estate property has picked up in the last couple of months following decent growth in the IT industry.
The Confederation of Real Estate Developers’ Association of India (CREDAI) has forecasted Kochi to emerge as the next realty hot spot in the wake of the commissioning of the International Container Transshipment Terminal (ICTT ) at Vallarpadam. CREDAI believes the prices of land and buildings are all set to skyrocket as it will generate more direct and indirect employment opportunities.
Real estate developers have called for focussed support in the Budget for the first-time home buyer and measures to augment supply of housing for affordable and low income groups. Industry representatives have also called for a simplification of systems and tax reliefs as a step to bringing down costs and catalyse developments.
Finance Minister Pranab Mukherjee has urged the real estate sector to be sensitive to the purchasing power of the poor while pricing their housing units. Speaking at the 10th national convention of the Confederation of Real Estate developers” Association of India (CREDAI) in New Delhi on Dec 16, Mukherjee also called for greater integrity in development, construction and marketing or real estate business.
The Confederation of Real Estate Developers’ Associations of India has expressed displeasure about the proposed Model Real Estate (Regulation of Development) Act in its present form, saying it could lead to an escalation of prices of housing stock in the country by Rs 300 per sq ft.