Central Government housing scheme launch: 2 lakh affordable flats CREDAI Launch Date: 9th April 2017

Urban development and Housing minister M Venkaiah Naidu will launch affordable housing scheme 2017 offering around 2.03 lakh housing units spread across Pune, NCR, Mumbai, Ahmedabad, Bengaluru and other cities.The affordable housing scheme 2017 offering around 2.03 lakh housing units will be launched in a function to be organised by CREDAI (Confederation of Real Estate Developers Associations of India) in Gujarat’s Ahmedabad on 9th April 2017. This affordable housing scheme 2017 offering around 2.03 lakh housing units will give push to the National Mission of Housing for All.

The size of these housing units under affordable housing scheme 2017 offering around 2.03 lakh housing units spread across Pune, NCR, Mumbai, Ahmedabad, Bengaluru and other cities will be upto 643 sq ft carpet area(around 900 sq feet built up area). The price of the housing units in the affordable housing scheme 2017 offering around 2.03 lakh housing units spread across Pune, NCR, Mumbai, Ahmedabad, Bengaluru and other cities will be around 12 Lacs to 35 Lacs.

With this move, the government is supporting private developers and their association in order to promote the affordable housing and Housing for All mission. Government has announced various schemes/measures to give a boost to the affordable housing and the activities in the real estate sector is expected to pickup due to government’s initiative.
The government is promoting affordable housing and the buyers can now take the benefits announced by the central government under the Prime Minister Awas Yojana also while buying affordable housing. With the real estate sector facing a slow down, affordable housing is one segment which can create back the demand and can turnaround the real estate sector of India. Recently, affordable housing has also been accorded infrastructure status which will help the developer in securing construction loan at very competitive rates. Additionally, extending the 80IB benefits will make the profit earned by a affordable housing project tax free. The prices of affordable housing units will have to be competitive going forward thus benefitting the buyer.

 

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