- Government should stop land auction
- Land should be given to developers at nominal cost
- Otherwise affordable flats not possible for middle-class
Buying a flat even in a small apartment, is turning out to be a major challenge for the middle-class home buyers. Most of the flats in Hyderabad suburbs which costed Rs 3,000-Rs 4,000 per sq.ft, are now priced at anywhere between Rs 5,500 and Rs 6,000 per sq.ft. Parking, GST and registration charges are an additional burden. As a result, a double bedroom flat in a small apartment which could be purchased for RS 40-50 lakh till recently, one has to shell out Rs 70-80 lakh now. The same flat located in a gated community in West Hyderabad region, would cost at least Rs 1 crore. If this scenario continues, the common man’s dream of owning a house will never come true.
Unlike earlier where they competed with each other to launch new projects, even the experienced builders are hesitating to announce a new project in the wake of soaring land prices. Many IT managers admit that economic recession has already started in countries like US, UK and rest of Europe. With the IT companies not taking up new recruitments, the software engineers are now apprehensive about their future. Now, they are thinking twice before making any investments including buying a house. Hence, most of the people are not interested in buying flats by paying the increased prices.
