CREDAI, FICCI and Developers are all together opposing the stringent conditions in the proposed Regulatory Bill and are even hinting at realty price increase across the country if the Bill is passed.
On the residential front, experts don’t see much corrections happening. Ganesh Vasudevan, vice president, Indiaproperty.com says, “I would rather say that prices will have an upward bias. Correction may only happen in luxury segment, depending on additional services and features. However, in 2012, the pent up demand from the last year may play out in the first two quarters.”
These developments are laudable and most optimists have said that ushering in transparency will only change things for the better. However, the industry has reacted testily. Bodies like CREDAI, FICCI and individual developers have accused the rehabilitation and regulator bills of being ‘biased’ against developers; and have even hinted at the possibility of price rise once they are passed. Read more here below to know better.