Giving a massive push to affordable housing sector finance minister Arun Jaitley in the budget finally gave the segment much needed relief and granted infrastructure status to affordable housing. The industry had been for long asking for these changes.
According to industry experts as well as officials in the Urban Development ministry the new measures would not only push more developers to enter the affordable housing segment, the cost of development would massively reduced for developers.
Also with tax benefits the government is offering, post demonetisation real estate prices reaching reasonable levels, would all help in attracting new home buyers and end users.
“Granting infrastructure status to affordable housing will provide a boost in volume of construction activity across the country. A good boost to the construction industry that was struggling with reduced number of product launches in real estate in the last couple of years,” said Joe Verghese, Managing Director, Colliers International India.(Read More)
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