Government initiatives, including ECBs for low-cost housing and interest subventions, are poised to boost affordable housing in Mumbai's outskirts, enhancing long-term price stability.
Budget 2012-13 proposes external commercial borrowing for affordable housing, a Credit Guarantee Trust Fund, and increased Rural Housing Fund provisions. Real estate players express disappointment, citing increased costs from the cement industry tax and service tax hike.
Realty leaders express disappointment over budget allocations for housing, calling for stronger support for affordable housing initiatives.
India's housing sector's GDP contribution is projected to rise from 5% to 6% due to increased investment, but the 2012-13 Budget lacks substantial support for the real estate industry's growth.
India's real estate industry hopeful for relief in Budget 2012, seeking industry status, tax revisions, and affordable housing incentives.