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Govt has made affordable housing national agenda: MB Infrabuild

Govt has made affordable housing national agenda: MB Infrabuild

India Blooms News Service | | 29 Feb 2016, 11:35 pm
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. 
 
Jaitley on Monday presented the Union Budget 2016 focusing on rural development and farm and social sector along with infrastructure with analysts terming it a pro-poor, pro-agriculture move that throws a challenge to the government to implement in reality.