2 hrs ago
CREDAI Seeks Area-Based Affordable Housing Without ₹45 Lakh Cap
CREDAI is a group representing real estate developers in India.
It wants the government to change how affordable homes are defined.
Instead of using a ₹45 lakh price limit, it wants the government to focus mainly on home size.
CREDAI suggests homes up to 60 square metres in big cities and 90 square metres in other cities could qualify.
It says prices differ greatly because land and construction costs vary between cities.
The group also says taxes, approvals and limited land make affordable homes harder to build.
The government is preparing a new policy, and CREDAI hopes it will arrive within six months.
A related report says India’s real estate sector could grow to $1 trillion by 2030.
CREDAI wants the ₹45 lakh affordable-housing price ceiling removed.
It proposed carpet-area limits of 60 sq m in metros and 90 sq m elsewhere.
CREDAI cited varying land, construction, taxation and approval costs across cities.
The organisation expects a revised government affordable-housing policy within six months.
A CREDAI-ANAROCK report projects India’s real estate market could reach $1 trillion by 2030.
- Who
- The Confederation of Real Estate Developers’ Associations of India (CREDAI), led in this discussion by President Shekhar Patel.
- What
- CREDAI proposed removing the ₹45 lakh price ceiling for affordable housing and using carpet-area limits instead.
- Where
- The proposal was discussed at CREDAI’s NATCON in Kolkata and applies to metropolitan and non-metropolitan cities.
- When
- The proposal was discussed on October 2, 2026; CREDAI expects policy changes within six months.
- Why
- CREDAI says prices, land costs, construction expenses, taxes and approval conditions vary significantly across cities, limiting affordable-home supply.
Key facts
- Metro area limit
- 60 square metres of carpet area
- Non-metro area limit
- 90 square metres of carpet area
- Current price ceiling
- ₹45 lakh, which CREDAI wants removed
- Policy timeline
- CREDAI hopes the revised policy will be introduced within six months
- Real estate market value
- Approximately $600 billion in 2025, projected to reach $1 trillion by 2030
- Sector GDP contribution
- Projected to rise from 6% in 2017 to around 13% by 2030
- Projected employment
- Expected to reach 30 million by 2030
Quotes
Shekhar Patel
President of CREDAI
“We have constraints on land, taxes, and approvals. We are working with the State governments and the Central government to resolve these constraints for the betterment of our citizens.”
freepressjournal.in
“We want that the cap of Rs 45 lakh should be removed. There should be only an area limit of 60 sq metre for metros and 90 sq metre for non-metros to be called affordable homes.”
freepressjournal.in
Sources
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