“Net-net, the price has gone up from the last three years but gradually. We do not want it to go too high, but at the same time we have to see that the bottom line is protected. We are very careful on overheads but there are expenses that need to be also looked at.”
The move is expected to curtail the unauthorised constructions of dwelling units far in excess of units sanctioned for a given space and plot size. In turn, the impact will be felt in unauthorised colonies, where such violation is common.
The regulatory authority had issued 1,053 warrants to recover ₹627.70 crore from developers for delay in the handing over of the apartments, with a warning to freeze their bank accounts and attach assets.