Nifty99000 100%

Sensex99000 100%

Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
RSS

News

Infrastructure status to affordable housing will ease borrowing rates, increase flow of foreign capital: Minister

Author: IANS/Tuesday, February 6, 2018/Categories: Infrastructure

Infrastructure status to affordable housing will ease borrowing rates, increase flow of foreign capital: Minister

New Delhi, Feb 5 - Union Urban Development Minister Hardeep Singh Puri on February 5 said the government accorded infrastructure status to affordable housing to ensure lower borrowing rates, tax concessions and increased flow of foreign and private capital.

Speaking at an institutional investor event here, Puri said the government also made announcements, such as profit-linked income tax deduction, relaxations on tax for vacant/ unsold units for one year, counting of the carpet area instead of the built-up area of 30 and 60 sq.m, for the affordable housing segment.

"These will be effective in spurring the housing and construction activities, providing huge relief to real estate developers. Also, these would attract private and foreign investments in the housing sector, having a positive multiplier effect on GDP and labour market," said Puri.

Noting that availability of encumbrance-free land within the existing municipal areas for urban housing schemes was not an easy task, Puri said provision had been made to include rural areas falling within the notified planning/ development areas, under the ambit of the Pradhan Mantri Awas Yojana (PMAY)-Urban. It would leverage availability of additional land at cheaper cost for construction of affordable houses. 

Responding to the demand-supply gap in the affordable housing segment, the government of India had launched the Pradhan Mantri Awas Yojana (PMAY)-Urban in 2015. 

According to Puri, the larger goal is to fulfil the housing needs of the homeless urban poor and enable them to own decent concrete houses with basic facilities by 2022. 

"Based on demand assessment at the state level, the nation has the mammoth task of constructing about 12 million houses under Economic Weaker Section/ Lower Income Group segment of the society in order to achieve the goal of Housing for all," he said.

Print Rate this article:
No rating

Number of views (88)/Comments (0)

Kavita Giridhar Mallya

IANS

Other posts by IANS
Contact author

Leave a comment

Name:
Email:
Comment:
Add comment

Name:
Email:
Subject:
Message:
x

Videos

Ask the Finapolis.

I'm not a robot
 
Dharmendra Satpathy
Col. Sanjeev Govila (retd)
Hum Fauji Investments
 
The Finapolis' expert answers your queries on investments, taxation and personal finance. Want advice? Submit your Question above
Want to Invest
 
 

Categories

Disclaimer

The technical studies / analysis discussed here can be at odds with our fundamental views / analysis. The information and views presented in this report are prepared by Karvy Consultants Limited. The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any information or analysis mentioned in this report, investors may please note that neither Karvy nor Karvy Consultants nor any person connected with any associate companies of Karvy accepts any liability arising from the use of this information and views mentioned in this document. The author, directors and other employees of Karvy and its affiliates may hold long or short positions in the above mentioned companies from time to time. Every employee of Karvy and its associate companies is required to disclose his/her individual stock holdings and details of trades, if any, that they undertake. The team rendering corporate analysis and investment recommendations are restricted in purchasing/selling of shares or other securities till such a time this recommendation has either been displayed or has been forwarded to clients of Karvy. All employees are further restricted to place orders only through Karvy Consultants Ltd. This report is intended for a restricted audience and we are not soliciting any action based on it. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities, or any options, futures or other derivatives related to such securities.

Subscribe For Free

Get the e-paper free