According to the latest news, in order to achieve the target of providing housing for all. The Urban Development Minister M Venkaiah Naidu will launch around 2.03 lakh affordable housing units in a function organized by CREDAI (Confederation of Real Estate Developers Associations of India) in Gujarat’s Ahmedabad on April 9.
In a real manner, the union government is working hard to achieve the target of providing housing for all with private developers and their association.
Under these affordable houses, the maximum size of a housing unit will be 643 sq ft carpet area which is equivalent to around 900 sq feet built up area.
However, the government is using different measures to promote affordable housing and the activities in the construction sector have started showing the result.
The president of CREDAI Getamber Anand said that the government is actively working to promote affordable housing. He also said the CREDAI should work as a nodal agency to attract the home buyers by providing the benefits of central government scheme Pradhan Mantri Awas Yojana.
Besides, he said the association has decided to assume a major role in involving its members for affordable housing projects.
According to the MD of Ahmedabad-based Savy Infrastructure Jaxay Shah, the infrastructure status will help the developer in securing construction loan at very competitive rates.
Along with this, extending the 80IB benefits which will make the profit earned by an affordable housing project tax-free, the prices of affordable housing units will become very competitive.
According to the price of the projects, the price of a housing unit is in the range of Rs 12 lakh to Rs 35 lakh depending on the cities and locations.
A senior official in the ministry said as the developers are the second most important stakeholder in the housing sector after the buyer, the government has decided to rope them in to distribute the various benefits to the end users.