ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • MSME Summit
  • Trending News
    • Viral News
    • Travel
    • People
    • Entertainment
    • Sports
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • Atal Pension Yojana rule change: Big setback for taxpayers - know how it will impact your savings
  • Home loans, EMIs to get more expensive: Now, this PSU bank hikes interest rates by .20%
  • Mask mandatory in Delhi as Covid-19 cases rise again: Check new rules and penalty
  • US inflation data: Break on 40-year peak, global markets rally - key highlights
  • Microsoft layoffs 2022: IT giant sacks around 200 more employees as recession fears rise
Read in App
Business News » India News

Big push to Housing For All: How tax sops are cementing affordable inventories in Delhi-NCR and other metros

There is 100  per cent rebate for developers developing 500 sq ft units and GST of 1  per cent , which makes affordable house property a hot cake in the real estate market.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Big push to Housing For All: How tax sops are cementing affordable inventories in Delhi-NCR and other metros
‘Housing for All by 2022’ mission threw a much-needed lifeline to the affordable housing segment. Photo: PTI

It seems that affordable housing has become a blue-eyed boy of the Indian real estate. Recently, in a CII-ANAROCK conducted survey report, it has been found that near 55 per cent of the net affordable house supply has come from Delhi-NCR and Mumbai Metropolitan Region or MMR. Industry insiders are of the opinion that major reasons for this is the rising population in these two metros leading to rising in demand and tax sops under the scheme are the major reason for this rise in supply.

Putting the light on the matter Pradeep Aggarwal, Chairman of National Council on Affordable Housing at ASSOCHAM told Zee Business online, "There is 100 per cent rebate for developers developing 500 sq ft units and GST of 1 per cent, which makes such property a hot cake. If even the property tax on such property is exempted then it will lead to a swarm of developers competing to make these homes available for the buyers. Also, the step is necessary among all the other real estate sops if we want to realise the dream of ‘Housing for All' in the shortest possible time."

See Zee Business video below:

किन कंपनियों के आएंगे अच्छे दिन? जानने के लिए देखिए #MunafeWalaMonday https://t.co/fju4seoYuL

— Zee Business (@ZeeBusiness) March 18, 2019

Anuj Puri, Chairman ANAROCK Property Consultants said, “The ‘Housing for All by 2022’ mission threw a much-needed lifeline to the affordable housing segment. The term 'affordable' has become respectable and builders who earlier shied away from it now hold huge portfolios in this category. This segment grew tremendously on the back of multiple sops introduced to both buyers and developers over the last five years.” He said that affordable housing was given the much-coveted infrastructure status, and the very definition of affordable housing has been tweaked to accommodate more inventory under this key category. Moreover, the previously highly speculative markets of NCR and MMR have been tamed and are, in fact, leading the thrust of affordable housing today. 

Connecting the rise in population of Delhi-NCR and Mumbai with the rise in affordable house supply Rakesh Yadav, CMD, Antriksh India Group said, "Delhi-NCR and Mumbai region has become home to the job seekers living in remote, tier-2 and tier-3 cities of India. Since Delhi-NCR and Mumbai have been the major drivers in the job markets, the population of these two metros has risen sharply in the last five years. This additional rise in population has further fuelled the affordable house markets that forced developers to supply more such houses."

 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Affordable HousingDelhi NCR real estate
Written By: Asit Manohar
Updated: Mon, Mar 18, 2019
11:08 am
New Delhi, ZeeBiz WebDesk
RELATED NEWS
HDFC completes world's largest social loan worth 1.1 billion to finance affordable housing HDFC completes world's largest social loan worth 1.1 billion to finance affordable housing
Ahmedabad most affordable housing market among top 8 cities, says report Ahmedabad most affordable housing market among top 8 cities, says report
Delhi-NCR builders need 73 months to sell unsold housing stock, Bengaluru only 31 months: Report Delhi-NCR builders need 73 months to sell unsold housing stock, Bengaluru only 31 months: Report
Myth vs Reality: Is affordable housing really affordable now? Real estate expert decodes Myth vs Reality: Is affordable housing really affordable now? Real estate expert decodes
Senior living housing demand increases during covid, expected to rise in coming years: Housing.com Senior living housing demand increases during covid, expected to rise in coming years: Housing.com

LATEST NEWS

Coal India share price hits fresh 52-week high as PSU's profit triples in Q1 - key highlights

Stocks to buy today: HDFC AMC, Mphasis, Infosys, Voltas among 20 stocks for profitable trade on August 12

Mask mandatory in Delhi as Covid-19 cases rise again: Check new rules and penalty

Home loans, EMIs to get more expensive: Now, this PSU bank hikes interest rates by .20%

Atal Pension Yojana rule change: Big setback for taxpayers - know how it will impact your savings

Raksha Bandhan 2022 correct, best date and time: Rakhi on 11 Aug vs 12 Aug? Today? Tomorrow? Shubh Muhurat, benefits, harms - All confusion cleared

How smart farming methods can boost small farmers' income

OPEC cuts oil demand forecasts as economic growth slows

Next Bank Holiday August 2022: Independence Day on Monday; here is a full list of holidays this month in major Indian cities

India to be fastest growing economy this year - What government source said

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV