High Prices of Plots concerns Builders
The burden of high land prices quoted by builders is ultimately borne by the customers who are already affected by high rate of Housing loans and service tax. The Navi Mumbai secretary of Maharashtra Chamber of Housing Industry, Manohar Shroff, said the fact that plots were being bought through the tender process at very high prices, leading to market instability was a cause for concern.
Recently, two plots in Nerul admeasuring around 1,200 sq m, were sold at a maximum rate of Rs 1.62 lakh per sq m, he said. Two other plots in Nerul went for a rate of around Rs 1.53 lakh per sq m, while a fifth plot there was sold for over Rs 1.27 lakh per sq m, he added.
Cidco must release much more land for development, so that the rates can come down. Builders should also be more cautious while quoting prices for tenders, he said.
Times of India
High land prices, High Prices of Plots in Nerul, Maharashtra Chamber of Housing Industry, Mumbai, Mumbai Builders, Navi Mumbai, Nerul Navi Mumbai, Plots in Nerul
Crap! Builders are digging their graves. R.I.P. builders for ruining dreams of Mumbaikars!