CREDAI welcomes RBI move
The Confederation of Real Estate Developers? Associations of India (CREDAI) has welcomed the RBI decision of easing financing norms for affordable housing. Providing infrastructure status to the affordable housing segment is a long pending demand, CREDAI is backing for. Though the demand is still pending, the recent step of easing the RBI norms for banks has helped it to achieve partially. Speaking on the development, C Shekar Reddy, President, CREDAI National, said, ?By easing the financing norms for affordable housing, RBI has put its best foot forward in order to achieve the Central Government?s goal of housing for everyone. The move of allowing the banks to issue long term bonds in order to raise resources for lending to affordable housing is appreciable. The decision will make the affordable housing projects attractive for developers and more builders will be coming together to initiate such projects throughout the country.?