Builders oppose new leasehold policy
The new leasehold policy announced by the government have not gone down well with the developers.
Builders are of the opinion that the hike in lease rates, announced in the new leasehold policy, will affect the monthly rents paid by tenants who occupy old buildings.
The builders say that the policy will also further drag down the real estate market and the property owners would have to pass on the burden to tenants, which again will invite resistance and litigation from tenants. Further, the lessees will shy away because of increased lease rates and shorter tenure.
Builders body The Confederation of Real Estate Developers’ Associations of India (CREDAI) opposed the policy saying that it goes against the concept of affordable housing.
Builders, CREDAI, Developers, Government policy, Government policy for real estate, hike in lease rates, lease rates, Monthly rental, new leasehold policy, Tenants
