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Regulations require that the market value of land be revised on an annual basis. However, real estate groups intend to meet with the government after the model code of conduct expires. C Shekar reddy, the national vice-chairman of the CII - IGBC, emphasized the need to preserve affordability, saying, "This is not the time to raise land costs. "The emphasis should be on increasing turnover rather than increasing value."
With several taxes and fees currently burdening real estate transactions, realtors think that additional hikes might make basic housing unaffordable for low- and middle-income families. They argue for a balanced strategy that benefits both investors and the public. Realtors believe increases could make basic housing unaffordable for lower-income and middle-income groups.