Unused land of PSU’s to be used for affordable housing

The recent government plan has made it clear that they may consider a plan to acquire surplus land parcels of public sector enterprises to develop affordable housing projects and townships under the Prime Minister’s affordable housing scheme. The affordable housing plan is currently aiming to achieve housing for all by 2022.  With the rapid development the retail projects in Gurugram there has been a noticeable spur in the commercial and residential affordable projects in Gurgaon as well. It all started with the Prime Minister’s initiative to provide housing to all, this initiative is being carried out under the scheme, “Pradhan Mantri Awas Yojana”. According to the government’s Credit-Linked Subsidy Scheme (CLSS), households with income of less than Rs 18 lakh are suitable to go for affordable LIG and MIG housing units under its interest subsidy scheme. As most of the people belonging to the low-income background are still struggling to purchase their own house, there is a huge demand for the affordable housing units. Being the low-cost units, such properties are a new hope for people aspiring to buy the first house. 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 policy makers and the financial institutions have made ample amount of amendments in order to assist the same PMAY scheme.

“There is no denying to the fact that the government has being giving in its best to make ways for the affordable housing segment easier. Thre has been so many new enactments and policy changes till date that have been successfully persuading the execution for the same. After experiencing a low time, the real estate climate is booming once again. Thanks to the governmental initiatives like RERA and GST, things have become simplified for both the developers and home buyers. The reluctance in buyers for investing in the market will come down. It’s important for the low cost units to get a boost as far as execution is concerned and the government is exactly working in this very own direction” says Pradeep Aggarwal, Co-founder & Chairman, Signature Global.

Add a Comment

Your email address will not be published. Required fields are marked *