BUDGET BRINGS “Good Days” FOR REAL ESTATE SECTOR: C Shekar Reddy, National President, CREDAI

This time, Mr. Chandra Shekar Reddy, the President of CREDAI i.e. Confederation of Real Estate Developers’ Associations of India stated in front of news analyst that the , real estate market in the country is now inspired by the policy named “Housing for all’ formulated by country’s government. In fact, large numbers of government officials have started seeking for definite directions over the policy front related to property market in its upcoming budget.

Success of any type of effort  towards providing residential facilities to , prospects of real estate involve proper mechanism to arrange adequate amount of funds for many developers and low-cost buyers in the form of pre-requisites. Despite, long-term mortgage market has developed itself to a drastic level for various high and middle-income groups, many consumers categorized under moderate and low-income groups have faced huge difficulties in getting access, as revealed in latest news.

Mr. Shekar and CREDAI Stressed for HFCs Augmentations

Mr. Shekar further said that although India has various HFCs or Housing Finance Companies for addressing the segment of real estate industry, they have to augment their actual funding limits. For this, CREDAI has given tips on housing and development and said that the approval for ECB i.e. External Commercial Borrowings should move forward in the direction of automatic route in combination with certification from reputable Architect for various plans to fulfill the criteria for Affordable Housing definition.

Infrastructure and Housing Achieved Strong Position

If you look over the real estate market in Hyderabad, you would likely come to know that with the efforts of developer’s confederation, investment opportunities in property and in renting house have looked forward to achieve rapid growth as well as development to a huge extent. In addition, infrastructure space has often obtained strong place and importance in the country’s budget since the arrival of NDA government. In fact, Reddy and its officials working under the Indian association have explained that they are confident to bring good days for investment in this market in India with its varying activities, which include

  • Focusing on various low cost housing facilities
  • Liberal norms for tax incentives and FDI for the association of REITs
  • Development of Infrastructure
  • Allocation of massive budget worth Rs7060 crores to allow upgrading and development of more than 100 different smart cities

According to the comments given by Mr. C Shekar Reddy in front of Indian news analysts, “New budget has its vision towards shaping India’s future and spreading massive development across the entire board.”

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