Godrej Properties have announced affordable housing ranging from Rs 10 lakh to Rs 25 lakh. These apartments are likely to come up in Ahmadabad, suburb Mumbai, and Kolkata.
“Valuation has become reasonable and it should not get spiked again. If valuation rises between 5-20% per annum it is reasonable,’ said Adi Godrej, chairman, Godrej Group.
He also added, “We do not look to price rises for success, we look to volume increase and I think it is important for the real estate industry to get to this stage. ‘
Mr Godrej feels that all the conditions for affordable housing have come into place for the first time.
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