Builders seeking fee from buyers to allot affordable houses?, Real Estate News, ET RealEstate

GURUGRAM: Affordable housing projects have come under the scanner of the department of town and country planning (DTCP) in the wake of complaints that many developers have been demanding a premium from potential homebuyers in the name of assured allotment. In Gurugram, there are currently around 91 affordable housing projects at different stages of construction. […]

Finance Minister, Real Estate News, ET RealEstate

NEW DELHI: Finance Minister (FM) Nirmala Sitharaman while presenting Union Budget 2021 said that ‘Housing for All’ and affordable housing are priority areas for the central government. FM allocated Rs 54,581 crore to Ministry of Housing and Urban Affairs in the Budget 2021. The government also extended the additional tax deduction of Rs 1.5 lakh […]

ICRA expects recovery in housing demand to continue due to improved affordability, Real Estate News, ET RealEstate

NEW DELHI: Housing affordability in India has historically been low, with unit pricing remaining high due to rising land costs, zoning and floor indices-based restrictions, and high transaction costs and taxes. In recent years though, the government has been taking steps towards moderating real estate transaction/finance costs and taxes, through measures such as higher income […]

50% paid, but flat construction yet to start in affordable housing projects, Real Estate News, ET RealEstate

GURUGRAM: The mismatch between construction and money collected by developers from buyers has emerged as the biggest area of concern in the affordable housing segment. This is because unlike regular group housing projects where payment is linked to the status of construction, investment is time-bound in the affordable segment. And because of this, a number […]

Haryana government to develop residential colonies for poor in rural areas, Real Estate News, ET RealEstate

CHANDIGARH: The Haryana government will develop residential colonies for the poor and middle class in rural areas of the state, an official statement said here on Tuesday. The Haryana Rural Development Authority will initially develop a model colony at village Israna in Panipat district, the statement said. A meeting of the authority was held here […]

PMAY-Gramin hit an all-time low with a mere 0.06% of houses being completed, Real Estate News, ET RealEstate

NEW DELHI: The pace of Pradhan Mantri Awas Yojana (Gramin) – the government’s flagship housing mission to provide pucca houses in rural India – has hit an all-time low with a mere 0.06% of houses being completed in the current fiscal. A review conducted by rural development ministry, the nodal ministry for implementation of the […]

Centre approves construction of 10.28 lakh houses under PMAY-Urban, Real Estate News, ET RealEstate

NEW DELHI: Union Housing and Urban Affairs Ministry on Friday approved the construction of around 10.28 lakh houses under the Pradhan Mantri Awas Yojana (Urban), taking the total number of houses sanctioned so far under the scheme to 1.06 crore. The decision was taken at a meeting of the Central Sanctioning and Monitoring Committee (CSMC) […]

Over 26.18 lakh kutcha homes in rural area converted to pucca houses, Real Estate News, ET RealEstate

BHUBANESWAR: The Odisha government has converted over 26 lakh kutcha houses of all poor families in the rural areas to pucca houses in the last six years. In another significant development towards converting kutcha houses of all poor families in the rural area to pucca houses by the year 2022, construction of 26,18,497 houses has […]

Over 9 lakh more BPL families to come under Tamil Nadu’s housing scheme, Real Estate News, ET RealEstate

CHENNAI: After a year-long survey, the Tamil Nadu government has identified 9.11 lakh families below poverty line, who were left out from the socio-economic caste census (SECC) 2011, to enable them to benefit under the Centre’s housing scheme. The survey was conducted by the rural development and panchayat raj department after the state government obtained […]

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