We welcome the government decision to bring affordable housing in the infrastructure sector. Also, definition of affordable housing changed to make it more practical to build and market. Now, we can expect focus on building more affordable housing projects, also rural housing will get big push. The borrowing costs for the home buyers has already come down significantly. Time period for Long Term Capital Gain is reduced by 33 per cent, with new base period. Many have been deferring their decisions to buy homes. All these factors will be considerably significant in helping to expedite their decision. This will make investment in the real estate sector lucrative providing a surge in consumption demand. Having said that, year 2017 will be the year of affordable housing.
- Pankaj Bansal, Director, M3M