Affordable Housing winning all hands

Ever since the government of India realized the prevailing scenario wherein majority of the people are homeless due to the high priced real estate sector, it announced its ‘Housing for all’ scheme. The initiative was tailor-made for lower income groups to provide them with the homes of their own. The series of initiatives from the financial institutions and concerned authorities have highly contributed to the execution of affordable housing projects. The recent launches of projects that are low-cost shows that the demand for affordable housing is still growing. Also, the government has been announcing various financial schemes to promote the easy loan sanction for the affordable housing segment.

The frequently held meetings by the government authorities try to eliminate the challenges that are being faced by the developers and builders while executing such projects.  Also, there is a clear-cut statement by the experts that this segment is going to be the most established wing in the coming years. The policymakers and the financial institutions have made ample amount of amendments in order to assist the same PMAY scheme.

“The framework and government’s push is clearly denoting that there is going to be sufficient growth in the real estate sector which was much needed, we cannot deny the fact that most of the financial institutions and micro-lenders are every now and then coming forward to contribute to the affordable housing projects. There has been an appropriate start at this sector suggest the past few years,  the recently enacted laws and regulations assuring transparency are going to ease larger proportion of people. The perspective about the real estate industry is transforming.  The good news is that the sector has already started experiencing the positive impact of these laws and benefitting policies ” says  Pradeep Aggarwal, Chairman, National Council on Affordable Housing, ASSOCHAM who is also the Co-founder & Chairman of Signature Global,

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