Budget has given impetus for affordable housing by providing is as infrastructure status. This was required as it will open up investments of many infra bonds to vide range of the affordable housing projects and incentives like tax benefits subsidies will boost construction of housing stock. Infrastructure status will also lead to reduction in the borrowing cost for these projects. Reduction in income tax rates for lower slabs will increase the disposable income in the hand of buyers. This combined with reduction in interest rates on the home loans by banks would increase their eligibility for the home loans. The issue of revision in the FDI policy to suite the requirement of housing has been taken up in this Union Budget. These positive moves will provide the required boost to construction industry and will support the vision of the Hon. Prime Minister, Narendra Modi of Housing for All by 2020.
Union Budget 2017-18:Budget has given impetus for affordable housing – Parth Mehta, Managing Director – Paradigm Realty
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