NEW DELHI (INDIA): Nirmal Lifestyle CMD and President of CREDAI-MCHI Dharmesh Jain said that Budget is a very good growth oriented budget. Infra status for affordable housing is an excellent move and is welcomed by all the developers .
“Increasing the limit of affordable housing to 30 and 60 metres carpet in non-metro area is great and developers would request the CM to extend it further to metro areas as well,” said JAIN.
“Smaller companies and also the corporate tax benefits is again going to benefit large number of companies across the country. Over all great efforts have been put into infrastructure which will boost economic activity. Budget will favour the economy in the upcoming months of this year. Cost of capital on affordable housing will come down and affordable housing will have access to long term funding which is critical in the current situation and benefit the customers,” he added.
Today, the Union Minister for Finance and Corporate Affairs, Arun Jaitley while presenting the General Budget 2017-18 in Parliament today said that affordable housing will now be given infrastructure status, which will enable these projects to avail the associated benefits.
“The National Housing Bank (NHB) will refinance individual housing loans of about Rs. 20,000 crore in 2017-18. Thanks to the surplus liquidity created by demonetisation, the Banks have already started reducing their lending rates, including those for housing,” said Jaitley.
The Finance Minister Jaitley in his Budget Speech said that in addition, interest subvention for housing loans has also been announced by the Prime Minister Narendra Modi.