The rising share of supply of affordable housing across India, on the back of favourable policies of the government including interest subsidy scheme under Pradhan Mantri Awas Yojana (PMAY), is set to further brighten the prospects of budget housing. According to a latest study, the pan- India share of affordable housing supply saw a jump…
Month: March 2019
RBI’s liquidity dose a boon for Affordable housing
The recent $5 billion currency swap window opened by the Reserve Bank of India will provide a much needed boost to liquidity in the market, thereby contributing to revive the fortunes of capital- starved real estate and housing sector . After open market operations(OMO) by the RBI to manage liquidity, its recent move will help…
Rising demand for home loans under PMAY- booster for affordable housing
The substantial interest subsidy of up to 2.67 lakh rupees offered through Credit Linked Subsidy Scheme (CLSS) under Pradhan Mantri Awas Yojana(PMAY) has given a big push to home loans by middle- income customers, turning to be a booster for affordable and mid- income housing. According to a report by RBI, affordable housing loans(especially up…
Property tax boost to affordable housing
The recent decision of the Maharashtra government to waive off property tax on housing units up to 500 sq ft will prove to be a major incentive in giving a push to the demand and sale of affordable housing. From this year, the Maharashtra government has decided to introduce a new policy, providing waiver to…
38% houses catered to Affordable Housing segment by NCR and MMR in 5 years
Basis a survey, a whopping 55 per cent share of the overall new budget housing supply have been contributed by the markets like Mumbai Metropolitan Region (MMR) and Delhi-NCR between 2013 and 2018 where 38 per cent or 7.65 lakh homes catered to the affordable housing segment. NCR, MMR and Pune witnesses the highest volumes…
GST Council meeting to take place on 19th March
Basis a source, to contemplate the multiple issues comprising of the implementation of lower GST rates for the real estate sector, the Election Commission has given the approval for holding the upcoming GST Council meeting on 19th March, where the meeting will be held through Video Conferencing. Ensuing the approval from the Election Commission, the states…
Delhi-Meerut Rapid Rail Corridor: a pioneering development for the Real Estate sector
The foundation stone for the Delhi-Meerut Rapid Rail Corridor in Ghaziabad was recently laid by Prime Minister Narendra Modi which will pass through one of the most densely populated areas of Delhi NCR and will connect Delhi to Uttar Pradesh. The Delhi-Meerut Rapid Rail Corridor aims at providing a fast, convenient and pollution-free transit system…
Dhaula Kuan gets a 4-lane flyover; real estate sector gets a boom
A four-lane flyover at the Dhaula Kuan junction on National Highway 8 in New Delhi was inaugurated by a high official on 9th March 2019 which is expected to reduce 30 minutes of waiting time at the traffic light during peak hours. Earlier, to cross this three-kilometer stretch, it took approximately 10-30 minutes due to recurring…
April 2019-March 2020: Construction Technology year for Real Estate sector
In order to meet the increasing demand of housing in the country, PM Modi declared ‘April 2019-March 2020’ as the Construction-Technology year stressing mainly on the use of advanced technology in the process. Seeking the support of the private sector, a major push on affordable housing is given by the government to ensure the fulfilment…
Metro Red Line Extension to Augment Ghaziabad Realty
The recent inauguration of the 9.6 km long extension of Metro Red Line in Ghaziabad is a new connectivity boost to the city, resulting in further resurrection of real estate. The red line metro extension will connect Delhi’s Dilshad Garden to Shaheed Sthal (New Bus stand) in Ghaziabad. This new link will directly connect Ghaziabad to Rithala. This is…