affordable housing projects in India
On Monday in New Delhi the realtors body CREDAI (The Confederation of Real Estate Developers Association of India) sought tax incentives on development of affordable housing projects and interest rate reduction on home loans to below 7 % while expressing their pre-budget wish list. Single-window clearance for the real estate projects to reduce red tapism and [...] Continue Reading »
The real estate industry has been reeling under the pressure of high land costs, delay in approvals, and high rate of interest from the financial institutions etc. for the last few years. Now they want the government intervention to make housing segment viable for buyers. Ceebros Property Development Chairman C Subba Reddy mentioned that there [...] Continue Reading »
’Acche Din Aane wale hain’’ was the tagline of BJP’s election campaigns and it included a lot of promises for creating facilities for the poor. Housing for all too was the most prominent mantra and Union Urban Development, Housing & Urban Poverty Alleviation Minister M. Venkaiah Naidu believes that it is possible only if the [...] Continue Reading »
BJP’s election manifesto was loud and clear, ‘’housing for all’’ by 2022. The middle and higher income groups always somehow manage to buy a shelter above their head; however it is the lower strata of the society which lives in uninhabitable conditions in slum dwellings. The realty arm of the Mahindra Group, Mahindra Lifespaces, has [...] Continue Reading »
Recently, a survey was conducted in over nine cities, covering 1,400 respondents. As reported by Mint, two things stood out prominently in the survey. One was that people were extremely eager to see the kind of changes the new government will introduce and how it will impact real estate. And the second point was that [...] Continue Reading »
M H Ambareesh, the Housing Minister had once mentioned on Tuesday that the State Government will now focus on the modalities of the Affordable Housing Scheme. This is where the developers will be given the opportunity to earmark at least 25% of the houses to all income groups who tend to be lower at rates [...] Continue Reading »
Housing Development Finance Corporation (HDFC) raised $300 million via external commercial borrowings (ECB). The amount was raised under the affordable housing scheme of the Reserve Bank of India. ECB loans carry a lower rate of interest and are raised abroad. The RBI has allowed housing finance companies to tap external sources of financing to enable [...] Continue Reading »
The Ministry of housing has sought tax sops, under the section 80IB (10) of the Income Tax Act, for the developers of affordable housing projects. A senior government official said the housing ministry has also asked for service tax exemption for private developers of the affordable housing projects. Also, the ministry has suggested that the [...] Continue Reading »
As the price of apartments are shooting up in most of the places in India, the buyers are hoping some good announcement to reduce the cost of apartment in the budget. It is noticed that the availability of mid and higher range apartments has been increased. But affordable residential apartments are not available according to [...] Continue Reading »
The real estate market is looking at the coming Budget 2012. the industry is expecting some sensible announcement in the budget, that will increase the affordability of apartments among the buyers. The industry is in trouble due to high lending rates and increasing cost of construction material. These incremental prices altogether increase the cost of [...] Continue Reading »
