The unfulfilled demand of more than 24 million houses in the country needs large scale impetus to achieve desired results. Allowing deduction for investment into affordable housing is a welcome step and will surely boost morale of housing industry and will accelerate investments in affordable housing.
The 2009 Mr. Salim committee report (parliamentary standing committee on housing) lays great emphasis on accelerating housing supply through increasing housing stock and promoting rental housing. It also refers to 24 million home shortage which will soon be 27 Million and ever increasing.
Kumari Builders and Developers is investing INR 300 crore in a 46-acre villa project in the city. Through this investment in Kumari Hamlets, the Bengaluru-based residential real estate developer is expanding its property portfolio by 1.8 million sq ft.
Track2Realty: Western suburbs of Mumbai are set for a facelift through redevelopment post the new Development Control Rule (DCR). Ravi Sinha speaks to Lalit Kumar Jain, CMD, Kumar Urban Development and CREDAI President to understand whether it would add more pressure on the existing crumbling infrastructure of the suburbs. Excerpts of the interview:
Track2Realty Exclusive: While the Vijay Kelkar Committee has strongly advocated in its recommendation to the Central Government that monetisation of the government land can finance the basic urban infrastructure needs, a move in that direction has set the tone for a fresh debate in Maharashtra.
A real estate regulator will enforce public disclosure and bring in much needed transparency and accountability in the sector and there is overwhelming support for setting up such an entity.
Kumari Selja, Union Minister of Housing and Urban Poverty Alleviation & Minister of Tourism, has categorically blamed the banks for not facilitating the affordable housing. Inaugurating the 10th National Convention of National Real Estate Development Council (NAREDCO) at New Delhi the minister said the housing finance sector has witnessed a boom in the recent past due to favorable government policies.
Track2Realty: Kumar Urban Developments (KUL) has introduced futuristic designed homes and washrooms that are built with hi-tech solutions satisfying the needs of discerning home buyers at their award winning project “Sophronia” at Kalyani Nagar, Pune.
Track2Realty: Kumar Urban Development Limited (KUL) has launched the lifestyle residential project ‘KUL Radiance.’ Located Bandra (East), Mumbai, KUL Radiance, a 15 storey tower, offers 1, 2 & 3 BHK apartments with 1 bhk flats measuring 361sq.ft, while 2 bhk apartments measure 525sq.ft.
Track2Realty: To simplify the process of home buying for its customers, Kumar Urban Development Ltd (KUL) is organising a ‘Home Loan Mela’ at its project sites – KUL Ecoloch and KUL Nation – on September 27th , 28th and 29th.