High End Developers show keen interest in affordable housing projects
The Union Budget which will be presented on July 10, Thursday will have a lot of leeway for the affordable housing segment which will give an up thrust to the housing for all by 2022 scheme. Interest rate subvention for the economically weaker section, lower income group and middle-income group homes will help India Inc. to materialise this dream by India’s 75th Independence Day.
The government is thinking about providing the infrastructure status to the real estate segment so that they can avail all the grants and benefits from the government of India. A new scheme for public-private partnership in affordable housing will expedite the projects and spur demand. The prices of the building materials are expected to come down.
All the measures have created a buzz word in the real estate segment and the developers are showing interest in the affordable housing segment.
Mahindra Lifespace Developers, for instance, recently ventured into this affordable housing segment and inaugurated the company’s new business vertical that will be launching two projects in Chennai and Mumbai Metropolitan Region in the next two months.
Lodha Group is also looking for suitable opportunities to enhance its investment in the affordable segment. Tata Housing Development has decided to invest Rs 3,000 crore to acquire more land, including joint development agreements, across major cities in India in the current financial year and most of this is expected to be used for affordable housing.
Source- The Economic Times
Lodha Group, projects by lodha group, public-private partnership model, Public-Private Partnership projects, Public-private partnerships, union budget, union budget 2014-15
