Karna govt should relax norms under ‘ease of doing’ business


Team Udayavani, May 15, 2019, 6:13 PM IST

Bengaluru: The Confederation of Real Estate Developers’ Associations of India (CREDAI) Wednesday demanded that Karnataka government should relax norms under the ‘ease of doing business,’ emphasising that the affordable housing in the city was set to boom.

“From CREDAI, we are emphasising the government for the ease of doing business in Karnataka because long procedures for approvals and clearances is delaying the projects,” said R National Vice President of CREDAI, Nagaraj Reddy told reporters here.

He appealed to the state government to reduce the stamp duty to one per cent for affordable housing on the lines of Telangana government.

“Stamp duty in Telangana for Affordable Housing is just one per cent. As of now it is 6.6 per cent (in Karnataka).

For plan sanction and licence fee, we are almost paying around Rs 80 per sq ft inclusive of all the clearances.

For affordable housing, we have asked the government to fix the rates at Rs 20 per sq ft,” Reddy said.

Noting that Whitefield, Hosur Road, Sarjapur Road and Mysuru Road up to Bidadi was set to develop in terms of affordable housing due to Metro Rail connectivity, Reddy said the segment ranges between Rs 45 lakh to Rs 65 lakh, which is in great demand.

“Our sales capacity in Bengaluru is 45,000 to 60,000 apartments per annum. Our production capacity is not that much. CREDAI members can only produce 35,000 apartments per annum.

Some unsold stocks of luxury apartments may be available. As per the affordable segment there is no stock atall,” Reddy said.

Another segment would be 300 to 400 square ft apartments, on the outskirts of the city.

Those having the capacity to pay an EMI of Rs 10,000 can buy an apartment.

“Those who are staying on rent paying Rs 10,000 to Rs 15,000 will be able to buy a house. The government has a policy of housing for all by 2022. We also want to contribute for it,” Reddy underlined.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

One killed, another injured in scooter-truck collision in Arantodu

Refusing medical aid to sexual violence, acid attack survivors offence: Delhi HC

Man’s miraculous escape: Lies on track as train speeds over him in Kerala

Vajpayee@100: Poet-politician whose words had fire and magic

Mangaluru: Karavali Utsava helicopter rides venue shifted

Janhvi Kapoor, Sidharth Malhotra to star in Maddock Films’ ‘Param Sundari’

Borewell mishaps indicate gaps in implementation of 2010 SC guidelines

Related Articles More

KSRTC inducts 20 Ambaari Utsav sleeper buses

One killed, another injured in scooter-truck collision in Arantodu

Bengaluru police appeals to public to stay alert against ‘digital arrest’ scam

“Golden Reunion and MEC to MIT Rechristening: A Historic Celebration of Legacy and Transformation”

Mangaluru: Karavali Utsava helicopter rides venue shifted

MUST WATCH

Tulunadu Daivaradane

Feeding Birds with Creative Paddy Art!

Areca Nut

HOTEL SRI DURGA BHAVANA

Harish Poonja


Latest Additions

Kohli needs to resist flashing outside the off-stump: Hayden

KSRTC inducts 20 Ambaari Utsav sleeper buses

IRCTC has stopped paying compensation to passengers for delay in private trains: RTI

One killed, another injured in scooter-truck collision in Arantodu

Refusing medical aid to sexual violence, acid attack survivors offence: Delhi HC

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.