The budget of 2011-12 has certainly given due importance to the affordable sector. The current scheme of interest subvention on 1 percent on housing loans is now extended to Rs 15 lakhs where the cost should not exceed 25 lakh.
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.
The move to increase the priority housing loan limit to Rs 25 lakh was a positive one that will lead to increasing the base of home loan takers and thereby a boost for affordable housing.
The government on Monday said low-cost housing loans of Rs 15 lakh will be eligible for one per cent interest subsidy, which will help in increasing the demand for such housing.
The limit of funds to be invested by foreign investors in the Indian infrastructure sector has been raised with Finance Minister Pranab Mukherjee also allowing mutual funds to accept foreign funds in the national budget presented on Monday.
Vastu principles are practical for all buildings whether it is a home, factory, temple or even an office. Office is mainly built to generate financial growth of business. Vastu suggests some rules in building offices that prove to be very functional for economic growth of the organization.
Realty firm Ansal API is looking at a fund infusion of about Rs 500 crore from a host of private equity investors, including IL&FS Investment Managers and Red Fort Capital, for its ongoing construction work in north India.
The building which has come up in place of the open air stadium has 8 giant halls in petal shape on the ground level and an equal number on the first floor ringed by a corridor that can house small shops. What’s left of central playing area is a circle with a diameter of 60 meters, built like an amphitheatre. The floor has been cemented so the entire structure on the erstwhile stadium doesn’t have an inch of grass left.
Omaxe Infrastructure & Construction Ltd (OICL), a wholly owned subsidiary of Omaxe Ltd, has bagged a contract from Director General Married Accommodation Project (DGMAP), Ministry of Defence, to construct residential accommodation including allied services for Officers, JCO / ORs at Deolali (Army) and Nasik (Air Force), Maharashtra.