Govt has made affordable housing national agenda: MB Infrabuild
New Delhi, Feb 29 (IBNS): Simarjit Bhogal, Snr Consultant, MB Infrabuild Pvt Ltd, on Monday said Arun Jaitley's Union Budget has made affordable housing a national agenda with a mandate of 22 million homes by 2022.
"With the increasing consumer base, demand for housing is a basic necessity has come to the forefront of even the middle class population for India. Culturally, an average Indian aspires to buy a home and thus seeks to create his asset base. Recognizing the need of the hour, Government of India has made affordable housing a national agenda with a mandate of 22 million homes by 2022. The Union cabinet has also passed the Real Estate Bill and it has various positive measures for the industry such as single window clearance for real estate approvals," Bhogal said.
"This will be an opportune time to lead the real estate sector towards the affordable housing goals. The Ministry of Housing and Urban Poverty Alleviation (MHUPA) released a report: Affordable housing in Partnerships in December 2013 and has categorized incentives for affordable housing, such as financing options for the low income group, previously ignored for housing finance."
"Though we see these positive announcements being made, real estate still remains elusive for the common man in India and a lot needs to be done to meet the affordability of a home buyers in India. Government can consider introducing certain tax incentives in the forthcoming budget to make real estate affordable for the common man," he said.
According to him, the union budget 2016 also talks about allocation of 97000 crores for various infrastructure upgrades.
"This is a very positive move to elevate the real estate sector as improved infrastructure will support sustainable real estate development in the country," said he.
BSE Sensex opens new high at 44,729.52 pts Wed, Dec 02 2020
Sun Pharma moves up by 5.51 pc to Rs 539.75 Wed, Dec 02 2020
Honeywell partners with IISc's SID to fund deep science startups with social impact Tue, Dec 01 2020
Indian Market: Sensex ends all-time high at 44,655.44 pts Tue, Dec 01 2020
MG Motor India November 2020 sales moves up by 28.5 pc Tue, Dec 01 2020
Hyundai records highest ever domestic sales in November Tue, Dec 01 2020
Escorts Agri Machinery November 2020 sales moves up by 33 percent Tue, Dec 01 2020
Bajaj Auto November 2020 total sale moves up by 5 pc Tue, Dec 01 2020