Real estate is the new emerging growth facet of the country. Undoubtedly, this is the time when we see the most number of homes getting built. The outskirts of the cities are into developing phase like never before. Conventionally, in our country, the slums are unimaginably near the opulent areas and lavish homes. Under the visions of PM Narendra Modi, the houseless folks in the country will soon have sweet homes to sit in.
PM Narendra Modi is running this drive to provide homes to country’s 1.3 billion people. The reports say that, in the next seven years, country people will have raised income and more scope of affordability of a house. In the next seven years, there will be investment worth $1.3 trillion in the housing sector. This speculation has been provided by CLSA India Pvt. Ltd.
The investor company is expecting the construction of 60 million new homes between the year 2018 and 2024. These projects will most likely create the numerous job opportunities in the nation. This will create 2 million jobs in the country and will give the boost country’s gross domestic product.
The experts are giving all growth credit to the housing and real estate sector in the country. Also, government is all active in the affordable housing programme for country folks.
By the year 2024, they are expecting a stark growth in the affordable housing for the country with a mark of 70 percent.
India is Asia’s third largest economy and PM Modi has this massive vision of affordable houses in mind.
Government also announced “infrastructure status” for affordable house in the nation. Under this, the affordable house builders will be get state incentives, tax benefits, subsidies and institutional funding.
The “housing for all” programme is an aspiring scheme which will make 20 million homes in the nation. It also makes sure of less interest and rebates for the home loans.
In last five years, there has been sharp drip on the mortgage rates in the country. Affordable houses will be a new reality in the country.