PCMC cancels 6,500 tenement launch under JNNURM due to PMAY launch. Beneficiaries can apply under PMAY. PCMC earlier planned 17,920 tenements but only built 11,420.
Knight Frank reports India faces severe housing shortages, exacerbated by funding issues in construction. Real Estate Investment Trusts (REITs) offer a viable solution.
Budget 2013 is anticipated to favor home buyers, with potential provisions for affordable housing. Realty players seek tax exemptions and lower interest rates.
Labor shortages in Greater Noida, Noida, and Yamuna Expressway delay housing projects, impacting real estate builders and homebuyers. Government schemes like JNNURM and NREGA, while successful, are blamed for limiting labor migration.
Urbanization is crucial for India's growth, but infrastructure development lags behind the rapid rise in urban population and real estate stock, necessitating urgent investment.