Page 11 - CO JAN 2020

COVER STORY

Peaking

also grow into a major growth engine for the economy.
Fast Facts
The affordable housing segment has picked up a significant
pace in recent years. While reforms like RERA have impacted the  According to a report by PropTiger.com, over a million
overall realty sector positively, it is the affordable housing-specific housing units will be delivered between 2019-2020.
policy announcements such as GST rationalisation, accordance  Experts have predicted that the low-income housing
with infrastructure status, PPP policy and tax incentives that have finance is expected to grow at 30-40 per cent over
helped evince the private sector interest in the segment. Recently, the next five years.
the government announced the creation of a `200 billion fund  The government also increased the tax deduction limit
for lending last mile financing support to salvage select stalled on the home loan interest component to ` 3.50 lakh
projects in the affordable and mid-income categories. The fund
will help complete the construction of around 350,000 units in both  The Smart Cities mission aims to create and maintain
these categories across the country. high-quality, 100 per cent efficient civic infrastructure
 Affordable housing reflected a growth of 27per cent
Till recently the demand for affordable housing was latent. But between January to September, 2017
unprecedented urbanisation, regulatory support, and government
support through policy initiatives like Prime Minister Awas Yojana
(PMAY), Rajiv Gandhi Awas Yojana (RAY), etc, is unfolding this migration is inevitable. This is catalyzed by what urban areas
latent demand in a big way. India’s development scenario is offer over a rural setting - an array of employment opportunities,
on an upward trajectory. Rapid development translates to an improved social indicators such as health and education, and
accelerated rate of urbanization where the phenomenon of access to basic services.

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