NAREDCO Maharashtra is advocating for a reduction in premiums for affordable and other categories of housing in the state. President of NAREDCO Maharashtra, Sandeep Runwal, emphasized that such a move would support the government's "Housing for All" initiative by making home ownership more accessible to a broader segment of the population. Dr. Niranjan Hiranandani, Chairman of NAREDCO, acknowledged the challenges, particularly in Mumbai, where there is a cap of Rs 45 lakh for affordable housing. He urged the state government to consider re-pricing the affordable housing segment and increasing the cap to align with market rates.
NAREDCO Maharashtra has called for reduction in premium for affordable and other categories of housing in the State. Mr Sandeep Runwal, President, NAREDCO Maharashtra, claimed that the move would boost the Government’s ambitious ‘Housing for All’ program with focus on providing affordable housing to home buyers. He also emphasized upon NAREDCO's commitment to making home-ownership accessible to a wider segment of the population. Dr. Niranjan Hiranandani, Chairman of NAREDCO, affirmed NAREDCO's commitment to recommending measures that make affordable housing more attractive and expediting the slum-free Mumbai movement. To this end, he recognized the Central Government's commitment to affordable housing, as seen in the Pradhan Mantri Awas Yojana. However, he emphasized the challenges, especially in the Mumbai region where there is a cap of Rs 45 Lakh for the housing. Unfortunately, with the ready reckoner rate by the Maharashtra Government and the market rates at present, the minimum prices work out to be more than Rs. 45 Lakh. Thus, he requested the State Government to consider re-pricing the affordable housing segment and increasing the cap. This was taken up by NAREDCO amidst the grand success of the second edition of HOMETHON Property Expo 2023, the largest property expo in India to date. HOMETHON 2023 witnessed a remarkable increase in participation, with over 130 Pavilions showcasing more than 700 projects. This year's event featured an impressive line-up of over 15 banking institutions, providing invaluable assistance to homebuyers in securing home loans and financial guidance. The event has become a beacon for those seeking exceptional home purchasing options and opportunities. NAREDCO’s HOMETHON Property Expo 2023 has not only surpassed its previous success but has set new benchmarks for the real estate industry. As the largest property expo in India, it stands as a testament to NAREDCO's dedication to fostering growth and innovation in the housing sector. Ace Bollywood actor and the brand ambassador of HOMETHON Property Expo, Riteish Deshmukh called HOMETHON 2023, the biggest home buying expo in the country and hoped the homebuyers to avail maximum benefit out of the Exhibition.
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