Aditya Kushwaha, CEO and director, Axis Ecorp, disagrees with the concept of price ceiling, pointing out that there is limited inventory available for society shops. If there is a price cap on these shops, they make little business sense from a developer’s perspective.
Since these shops are a lucrative proposition, these enjoy a greater demand. “A developer has to allocate resources, efforts and inventory into establishing these shops at convenient spots.
We believe that market forces are the best judge, to determine the price based on the location, size and footfall. Moreover, there is no stipulated body that can enforce a capping or make sure that the price capping is being adhered to,” says Kushwaha.