Banks and Housing Financing Companies Support Needs For Affordable Housing
Affordable housing across the country needs more support from banks and housing finance companies.
[adhere]The Confederation of Indian Real Estate Developers’ Associations (CREDAI) said that banks and housing finance companies need to support developers and builders in building affordable housing projects as margins are low in this segment .
CREDAI-NCR President Manoj Gaur said that interest in affordable housing has increased after this segment has received infrastructure status in the Budget.
With greater interest in the affordable housing sector, it needs more support from banks and housing finance companies to reach the housing target for all missions by 2014. Due to the low margins, the builder and developers need special facilities The partners to finance the construction.
The instruction and addresses of affordable housing would be completely followed by the developers at the time of planning the projects.
Real estate consultancy CBRE published a white paper and gave a positive perspective to the real estate industry saying that the impact of an unprecedented measure such as demonetization had only a short-term impact. He noted that the industry was moving towards greater transparency and governance reforms.
The White Paper also said that the sector would likely witness the influx of more formal sources of capital, with likely institutional capital being infused into the long-term sector.