Low-cost housing segment to be granted the ‘’infrastructure’’ tag
The real-estate developers are demanding for an infrastructure status to the Low-cost housing so that they can enjoy the benefits of getting more finance from the banks and financial institutes for longer tenures. A senior government official stated that this will eventually increasing the supply of houses and will fulfill the dream of ‘’Housing for all’’ which was there in BJP manifesto. The government is likely to grant this status only to the low-cost segment even though the developers want the infrastructure tag to the housing sector as a whole.
The definition of low cost housing as per the government is, ‘’low-cost houses are those with an area of up to 40 square metres’’. Modi led government wants to gift a brick and mortar house to each family by 2022 when India will celebrate its 75th independence day. BJP’s manifesto talks about encouraging the residential segment of real estate by facilitating credit availability, interest rate relaxation, relaxed land acquisition policies and granting money for such residential projects.
Source- The Economic Times (Bangalore Edition)
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