Cost of apartments in Vadodara will increase
Recent amendments in General Development Control Regulations (GDCR) for the floor space index (FSI), reduced the hope of availability of spacious flats in Vadodara.
Previously the land owners gave their properties to builders and used to get good spacious apartments built on their land while the builders sell the other apartments to different customers.
Due to the recent change in real estate sector, the builders will not be able to build more flats in a land in the old city therefore the profit margin will reduce to an extent.
With the changing times the builders moved their focus to construct apartments outside the old city area.
According to the government officials, construction of more flats and apartments in the old city will increase the congestion.
All these have paved way for the government to make amendments in the real estate sector.
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Source: The Times of India
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Thanks so much for an interesting post. I’ve been searching for this sort of information for a while now.
Good info! However, how will the middle class even afford for apartments if the prices keep on increasing?