Realty scene to improve in India
The Confederation of Real Estate Developers’ Associations of India (Credai) has decided to work towards the theme ‘Home For All by 2022’. The meeting of the body that was held during August 6-8 laid special thrust on the mission of pucca housing for all by 2022.
C Shekar Reddy, National President, Credai, in a statement said, that the Narendra Modi Government taking steps to introduce reforms and recent steps by the RBI to relax norms, the housing sector is expected to grow. These steps will help in boosting the realty sector and help enhancing the business. The government has been taking measures in order to catalyse this sector which had been for long going through a rough phase
In order to bring affordable housing project finance and home loans up to Rs. 50 lakh under priority sector lending (PSL) will give a major boost to the small and medium developers which will be catering to the affordable housing segment. Moreover, the government has incorporated Credai’s recommendation and relaxed the FDI norms for investment in real estate, which will act as a catalyst for growth, as stated by C Shekar Reddai.
Source: The Hindu Business Line
C Shekar Reddy, Confederation of Real Estate Developers' Associations of India (CREDAI), CREDAI, Home For All by 2022, National President, Priority sector lending
