The Indian rental housing sector – State of apathy
The Indian rental housing sector is seriously under-serviced by the organized real estate industry.
The Indian rental housing sector is seriously under-serviced by the organized real estate industry.
Fire Capital, the first private equity fund focused on the…
Hospitality firm Lemon Tree Hotels is foraying into real estate, with plans to invest over Rs.1,400 crore, to launch housing projects in India in partnership with US-based investment firm Warburg Pincus.
Indian house prices rose rapidly from 2002 to 2007. Strong economic growth and urbanization supported house prices, while in city centres a housing bubble was encouraged by inadequate infrastructure, lack of planning and antiquated land use laws.
Real estate has emerged as the most preferred investment avenue for working professionals in non-metro centres vis-à-vis bullion and stock market.
We are happy with the governments focus on affordable housing. Loan amount that qualifies under priority sector lending. Now, a home loan of Rs. 25 lakh would qualify as priority sector lending.
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.
Affordable Housing development is expected to be encouraged with the announcement of a new Housing Mortgage Guarantee Fund which will cover the risk of Housing Finance Companies for lending to less advantaged sections of society.
Alibaug is one of the traditional weekend-getaway destinations for residents of Mumbai. Since the late 1990s, it has also emerged as a second home destination. Apart its proximity to Mumbai, many other factors make Alibaug an attractive second home destination.
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.