'Taxes, delays are hurdles in affordable housing'

Reduction in taxes and flexibility in approval process will provide affordable homes to the masses. If these two elements are addressed by the government, selling price of the homes will be reduced by at least 33%," said Lalitkumar Jain, President of the Confederation of Real Estate Developers Associations of India, (Credai) and Chairman of Kumar Builders.

The Credai has prepared a comprehensive checklist of requirements of each department, like environment, traffic, garden and water and this list will be submitted to the Union minister of Urban Development, Kamal Nath, later this month. "If this list is approved by the government, a builder will get the approval within three weeks. Thus, we can control 25% cost of delay, thereby reducing flat prices. We have no control over the cost of land, material and labour, so at least lets control the cost of delay," added Jain. 

The members unanimously elected Satish Magar as the president of Credai, Maharashtra and Pune in the meeting. A decision to merge Credai, PCMC and Credai, Pune was made in the meeting. Thus, Credai, Pune has been renamed Credai, Pune Metropolitan Region (Credai, PMR).