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Kudos to the govt of Maharashtra!!!
At least the common man in Mumbai can now be closer to their dream of owning a house.
Ek ghar bane nyara.....
sach ho sapna hamara.... :)CommentQuote0Flag
- let the people decide....
I couldn't stop myself from posting here friends....
This policy is definitely a bold initiative by the govt. The builders in all these years have been extracting money from the buyers for all the super-built up and built-up area as and when we buy our house or apartment. But what we get as our own possesion is the carpet area.
Take my instance...
I bought a 1200 sq.ft apartment in Andheri last year for Rs.4900/sq.ft.
But what I got to live is actually 750sq.ft i.e. the carpet area.
I paid approximately 59 lacs for 1200sq.ft, but by the new housing policy; which would only include the carpet area, I would have paid only for 750 sqft i.e 37 lacs approx.
I hope the calculation says it all.....
Its now for the people to decide :)CommentQuote0Flag
- The new housing policy is no doubt a good step and highly appreciable by the people of Mumbai.. according to a stat, more than 80% of Mumbai’s middle class population can not afford to buy a house.
I m pretty much optimistic about the move but do u people believe tht this policy is here to stay for a long time. I guess.. NO!! Builder lobby has already started raising their eyebrows on this move.
I had a chat with a builder who is also a close friend of mine and he said that the price per square foot would increase if the user pays only for the carpet area...CommentQuote0Flag
- Wait and Watch..
Its not time yet to rejoice..
The new housing policy seems pathbreaking, but it needs to be taken with a big pinch of salt
If the past records of all the state goverment is anything to go by, it will be ages before things are implemented in the right spirit and get the desired results
I dont intend to sound pessimistic, but with my 12 year experience in the industry, i have seen closely the way this industry functions.
I spoke to few of the big wigs in the industry and eveyone had a cautious wait and watch attitude
Read the article in todays Sunday Mid-Day
It would be interesting to watch the government implement all the points raised in their New Housing Policy at the earliest.
- will the buyer's benefit?
Yes, you are right to some extent. But the builder's next move if the policy is implemented has been anticipated and is the latest storm in the cup now...
THE new draft housing policy unveiled by the State government on Wednesday may have made buying a house easier, but it comes with no monetary difference for the buyer. For, to compensate for the revenue loss due to ban on including built-up or super built-up area, the builders will increase the rate per square foot of the carpet area. "To adjust the revenue loss, the builder will simply increase the rate per square foot," Lalit Kumar Jain, convener, Confederation of Real Estate Developers Association of India (CREDAI) and Kumar Builders chairman, said.
The reason: The built-up or super built-up area adds as much as 25-35 per cent of the total area of a flat. So, in actual terms if a person buys a 1,000 sq ft flat, the carpet area is a mere 650-750 sq ft, while the person pays for the entire 1,000 sq ft. To put it in monetary terms, if a person buys a 100 sq ft flat at the rate of Rs 80 per sq ft, the total cost of the flat works out to Rs 8,000. However, the customer gets only 80 sq ft carpet area with the rest going for built-up and super built-up areas. But the draft policy has made it clear that the builders can charge only for the carpet area. Hence, if a customer buys a flat with 80 sq ft carpet area at Rs 80 per sq ft, the customer has to pay only Rs 6,400 and not Rs 8,000 for the flat.
This had led to speculation in the market that the house would cost less. But the reality is that instead of Rs 80 per sq ft, the builders will now raise this to Rs 100 per sq ft, thereby having no change in the price for the customer. But if the customer wants to go for a 100 sq ft carpet area flat, the customer will have to shell out Rs 10,000. However, a section of the builders said they had been following a carpet area-based pricing strategy for the past few years.
Source: Pune NewslineCommentQuote0Flag
i totally agree with you. ultimately the situation in case of pricing would be the same. out of pocket cost would be same. there is no need to be happy in terms of pricing of housing policy.CommentQuote0Flag