The ‘Housing for All’ by 2022 initiative is a potential game changer. Economic recovery is expected to gain momentum, driving the demand for affordable housing. The housing sector in India holds tremendous potential to have a positive effect on the economic and social development of the country. The realty sector will benefit because of a number of incentives like subsidized land, higher Floor Space Index, timely approvals, concessions and tax exemptions, funding to name a few are necessary to aid development of housing projects.
The growth of the housing sector has had a multiplier effect on the Indian economy and has been a big driver for economic growth. The housing sector generates direct mass employment for unskilled, semiskilled and skilled laborers as well as many white collared workers, indirectly also many more jobs are created. The governments at both the state levels and the center have a crucial role to play in giving a boost to the realty sector and hence a boost to the Indian economy. [Read more…]