Realtors now demand special residential zones

April 21st, 2008 - 8:09 pm ICT by admin  

New Delhi, April 21 (IANS) On the lines of special economic zones (SEZs), realtors are now demanding special residential zones (SRZs) and special residential corridors to provide low cost housing for the economically weaker sections. “The major challenge for the developers in providing affordable housing for the lower income groups is the rising land costs. The increasing cost of cement and steel is adding to the woe of developers and the end users are bearing the heat,” said Rohtash Goel, chairman of Omaxe, during a day-long seminar on affordable housing here.

“If the government can provide us land at subsidised rates under these special residential zones, the cost of housing can come down considerably,” Goel said.

“The extension of domestic tax benefits, on the lines of SEZs, will encourage more and more developers to join the corridors, which will have a considerable number of housing dedicated to the urban lower income group and the economically weaker sections,” Goel added.

“The government must provide either subsidised land or other tax relaxation to developers then only the concept of affordable housing can be successful,” added Pradeep Jain, chairman of Parsvnath developers.

Commenting on the proposal, Kumari Selja, the Minister of State for Housing and Urban Poverty Alleviation, told IANS: “Although the proposition of SRZs is good but we are not encouraging zones specifically for the urban poors. That will be like creating ghettoes for them and exclude them from the mainstream.”

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