NAREDCO Maharashtra Calls for Reduction of Premiums on Housing and Re-pricing of Affordable Housing


Mumbai, November 27, 2023:  NAREDCO Maharashtra has called for reduction in premium for affordable and other categories of housing in the State. Mr Sandeep Runwal, President, NAREDCO Maharashtra urged Mr Atul Save, Minister of Housing, Government of Maharashtra during inauguration of HOMETHON Property Expo 2023 in Mumbai. Mr Runwal claimed that the move would boost the Government’s ambitious ‘Housing for All’ program with focus on providing affordable housing to home buyers. He also emphasized upon NAREDCO’s commitment to making home-ownership accessible to a wider segment of the population.

Dr. Niranjan Hiranandani, Chairman, NAREDCO, addressed the pressing issues in the housing sector during the event. He affirmed NAREDCO’s commitment to recommending measures that make affordable housing more attractive. “Housing in Mumbai needs an impetus in structural policy skewed towards expediting the slum-free Mumbai movement and making it affordable for homebuyers. NAREDCO will continue to collaborate with all stakeholders to achieve these goals,” he asserted.

Dr. Hiranandani further said, “We are pleased with the Central Government’s commitment to affordable housing, as seen in the Pradhan Mantri Awas Yojana. However, the challenges remain, especially in the Mumbai region where there is a cap of Rs 45 Lakh for the housing. Unfortunately, with the ready reckoner rate by the Maharashtra Government and the market rates which are there, the minimum prices work out more than Rs. 45 Lakh. The affordable housing segment needs to be re-priced. Hence, we request the State Government and the State Housing Ministry should consider increasing the cap.”

Meanwhile, NAREDCO Maharashtra, under the dynamic leadership of Sandeep Runwal, President of NAREDCO Maharashtra, is proud to announce the grand success of the second edition of HOMETHON Property Expo 2023. Building on the success of last year, HOMETHON has grown exponentially, becoming the largest property expo in India to date.

HOMETHON 2023 witnessed a remarkable increase in participation, with over 130 Pavilions showcasing more than 700 projects. This year’s event featured an impressive lineup of over 15 banking institutions, providing invaluable assistance to homebuyers in securing home loans and financial guidance. The event has become a beacon for those seeking exceptional home purchasing options and opportunities.

Mr Sandeep Runwal, President of NAREDCO Maharashtra, expressed his enthusiasm about the event’s growth, stating, “HOMETHON has evolved into an unparalleled platform for the real estate industry. We are delighted to have more participants, pavilions, and projects on display this year, making it a one-stop destination for homebuyers and industry professionals alike.”

NAREDCO’s HOMETHON Property Expo 2023 has not only surpassed its previous success but has set new benchmarks for the real estate industry. As the largest property expo in India, it stands as a testament to NAREDCO’s dedication to fostering growth and innovation in the housing sector.

Ace bollywood actor and the brand ambassador of HOMETHON Property Expo, Riteish Deshmukh called HOMETHON 2023 as the biggest home buying expo in the country and hoped the homebuyers to avail maximum benefit out of the Exhibition.

Corporate Comm India (CCI Newswire)