‘Housing for All’ is one of the most talked about missions brought forward by Narendra Modi besides the Smart City projects. The mission is aimed at providing affordable homes to the urban poor and slum dwellers at low interest rates so that everyone can have a roof above their head. The mission on low-cost affordable housing for the project will be harboured by the National Housing Bank (NHB). To attract investment in the housing sector, the government has decided to provide tax incentives on certain projects.
There are a number of institutional players out there and the motto is to attract them to make investments in rental housing. The plan is expected to be presented at the next union budget. Real estate is one of the fastest developing industries of India. Housing sector not only improves the scenario and urban skyline of the cities but also contributes a whole lot to the other industries. The main sector that benefits from housing is the construction industry which in turn promotes the other sectors that provide critical inputs to the construction industry such as cement, steel and other industries. Several new job opportunities are also created. [Read more…]