‘The scenario is not very encouraging’
Right now, government authorities have not introduced any projects. State agencies could have brought several schemes since profitability is not a concern and they have the land.india Updated: Sep 02, 2010 23:06 IST
Confederation of Real Estate Developers’ Associations of India
What is the current scene of housing affordability in Noida?
Right now, government authorities have not introduced any projects. State agencies could have brought several schemes since profitability is not a concern and they have the land. The quality of work done in Noida, Greater Noida and Ghaziabad is poor. The rush factor adds to it with normally one crore applications for a lakh accommodations.
What are the other reasons?
See, land rates in the National Capital Region are higher when compared to other parts of the country due to heavy infrastructure development. Our studies suggest the lower middle class and below can’t afford more than R10 lakh for a house. In Noida Extension and parts of Greater Noida, a one-bedroom or a smaller two-bedroom house costs up to R15 lakh. The scenario is not very encouraging.
What is being done by private players to address the problem?
Builders such as Supertech, Amrapali, Gaur Sons and Niralas have been building houses for the low-income group. Sadly, the government has not done much to cater to this section. Builders have their own compulsions. They have to invest a lot on interiors, parking lots and recreational areas. (As told to Darpan Singh)