Talk of mass housing trendy as property slows

Font Size

Print

Feedback

Email

Discuss

Related Articles

Parsvnath launches new projects in Haryana, PuneLong term prospects of real estate good: HDFCLong term prospects of real estate good: HDFCTata Housing plans projects for non-metros

blocks in New Delhi's suburb of Gurgaon to squeeze in more two-bedroom units, along with four-bedroom homes.

Land prices have quadrupled in many areas over the last three years but many in the industry expect prices to drop anywhere between 15 percent and 50 percent in the coming year.

Developers hope authorities will allow them to build taller blocks by raising a measure of building density called the floor space index (FSI). The Maharashtra state government made such a move last month to ease a housing shortage in Mumbai.

"Every developer is talking about low-cost housing because there is demand there," said Anshuman Magazine, managing director of CB Richard Ellis in India. "But there's a need to reduce land costs, increase FSI, build infrastructure first."

"In India we tend to build houses for 100 years and I don't think we need to," said Arun Nanda, vice chairman of Mahindra Lifespace Developers.