While real estate industry analysts have expressed largely unanimous approval for new minister for housing and urban poverty alleviation Ajay Maken’s edict that private developers will have to reserve 35% of houses or 15% floor area ratio (FAR), whichever is higher, for economically weaker sections (EWS) under the Rajiv Awas Yojana, builders say the move will inevitably lead to further escalation in property prices.

Tall storey: The builder’s apex body Confederation of Real Estate Developers’ Associations of India has submitted a memorandum to the housing ministry urging that minister for housing and urban poverty alleviation Ajay Maken rethink his proposal. file pic