CREDAI asked to conduct survey on of unsold houses
Union secretary for financial services D K Mittal has reportedly asked the Confederation of Real Estate Developers Association of India (Credai) to conduct a survey of unsold housing stock across the country.
The initiative was taken at a meeting which was attended by representatives of both banking industry and developers. The step comes in the wake of a report that developers were sitting on five lakh unsold flats which they are neither able to sell at the prevailing high prices nor are they allowing others to buy by lowering the prices.
The finance ministry wants a decision to be taken on unlocking the value of the unsold stock and to bring down the escalating property prices.
The Union Secretary has met developers and bankers thrice to understand the issues of housing sector and developers’ financing problems. At the meeting, Credai also reiterated its stance that limitation on land availability for realty projects and restrictions on floor space index(FSI) also need to be addressed to increase housing supply and price rationalization.
banking industry, Confederation of Real Estate Developers' Association of India (CREDAI), Developers, Finance ministry, floor space index(FSI), Housing sector, housing stock, price rationalization, Real estate in India, Realty projects, Survey, Union Secretary, unsold housing stock
[...] CREDAI asked to conduct survey on of unsold houses [...]
[...] CREDAI asked to conduct survey on of unsold houses [...]