Benefits of Infrastructure Status in India
The moment Modi Government granted infra status to the affordable housing segment of the real estate industry, the industry experts and real estate industry czars showered a lot of praise on the Modi Government for such a bold step.
People were expecting this due to good governance policies of the Modi Government. This infra status to the affordable housing segment has led to the easy access of funds to the developers. Now, the developers in affordable housing segment will get funds at lower borrowing rates from banks, thanks to benefits of Infrastructure Status in India.
The government has taken these extremely positive steps in the recent budget. This will also offer further push to the sector. Yes, there will be benefits that cannot be measured right now but one can see the effects in 2-3 years.
The government’s aim that is Housing for all can be a total reality in coming years. Government is taking this goal very seriously and taking steps in the right direction. In India, there will be efficient supply of housing stock; people will get homes at affordable rates. This has already started people are buying apartments at affordable rates, cheaper than earlier hefty prices. Buyers are appreciating this fact. Moreover, there are many benefits associated with it that one cannot ignore.
Many developers in the NCR area and many real estate players across the country have modified their projects into affordable housing segment. People are seeing many benefits of Infrastructure Status in India.
The government has also offered many sops in the recent Union Budget. Now, apartments with bigger area qualify for affordable housing and this will lead to more units relevant for cheap housing benefits.
This has encouraged not only home buyers but also boosted participation from various real estate private players. Tata Value Homes has launched affordable housing project Tata Destination 150 in Noida. HDIL has also announced new project in Mumbai under the affordable housing brand Budget Homes. The company has formed this segment recently.
Earlier, an apartment with lesser amount than 1 crore was not available in the city but after the infra status one can buy apartments at cheaper rates in the city as well. These are some of the benefits of Infrastructure Status in India. It was a significant step by the government. You too buy your home at the right price! Make the most of the benefits and subsidies.
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