Banks & Housing Finance Companies Need to Support Affordable Housing Development

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In order to develop affordable housing projects in cities, the Realtors’ body CREDAI said the banks and housing finance companies need to help private builders for developing affordable housing project because the margins are low in this segment.

The CREDAI-NCR President Manoj Gaur said that the interest in affordable housing has increased after this segment has been given the infrastructure status in the Budget.

Gaur also said after the increment of the interest in affordable housing, the banks and housing finance companies need to support builders to achieve the target of “Housing For All” by 2022. He said we need special facilities from partners to fund construction.

The developers would be completely compliant with the definition of affordable housing when planning projects. In this regard, a white-paper has also been released by the property consultant CBRE.

This white paper gave a positive out positive outlook on the real estate industry saying that the impact of an unprecedented measure like demonetisation had only a short-term impact. It noted that the industry was moving towards increased transparency and governance reforms.

News Source: http://www.dnaindia.com/money/report-credai-seeks-support-for-development-of-affordable-housing-2345644

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