Can residents of HDFC co-ops get rich off their apartments?
No. HDFC co-ops are “limited-equity.” They are required by law to remain affordable for low-income people. The resale guidelines of HDFCco-ops vary to some degree among buildings. In most cases, the sale price is limited by the fact that the incoming shareholder (purchaser) must meet the income guidelines of the HDFC. So although the price is not limited, the income of the purchaser is. Where there is a profit to the buyer, there is usually a split of the proceeds between the departing resident and the co-op itself.
