One of the recent developments in the real estate industry that is supposed to shake things up is the revision of carpet area for affordable housing by the Ministry of Housing and Urban Affairs. This move has received mostly a positive response from the big shots of the realty business, Mr. Rakesh Reddy being one of them. He believes that this will generate positive momentum and surely work in favor of the industry players and is in the best interest of home buyers.
The previous carpet area as specified by MoUD for MIG was preventing buyers from availing loan benefits if carpet area was over 120 or 150 sq. meters. This has now changed, thanks to the revision, and making the real estate industry start buzzing again.
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