This story is from June 30, 2015

More realty demand than supply: CREDAI

Reacting to the comments made by HDFC chairman Deepak Parekh that builders were unrelenting on prices despite growing inventory of unsold housing units and there was a need for builders to reduce prices of residential units, the Confederation of Real Estate Developers' Association of India (CREDAI) on Monday termed the statement as “far from reality”.
More realty demand than supply: CREDAI
AHMEDABAD: Reacting to the comments made by HDFC chairman Deepak Parekh that builders were unrelenting on prices despite growing inventory of unsold housing units and there was a need for builders to reduce prices of residential units, the Confederation of Real Estate Developers' Association of India (CREDAI) on Monday termed the statement as “far from reality”.

“Housing is a basic necessity of life for all across every strata of society. While we respect Deepak Parekh who is a doyen of the housing industry, he has put his view across and said that the quantum of unsold housing stock is on the rise, the reality, however, differs. There is instead more demand than supply. The ministry of urban development of the Government of India confirms and seconds this stream of thought”, Jaxay Shah, president-elect, CREDAI clarified in a statement issued on Monday.
“We at CREDAI welcome Parekh’s insistence and concern on reducing costs. But may aspects to this needs to be analyzed," added Jaxay Shah. “We will have to keep in mind that land prices, cost of labour and price of raw materials have consistently been rising,” he further stated.
End of Article
FOLLOW US ON SOCIAL MEDIA