Kartik Infratown

Low cost housing is expected to get the infrastructure status in BJP’s 2014 election manifesto and making it easy for leading developers to obtain finance from renowned banks and for longer tenures and finally growing the huge supply of luxury houses. While leading developers are in the favor of an infrastructure tag to the residential sector as a whole, the government is expected to grant it only to the low cost sector, said a senior from government official source.

According to government sources, low cost homes are those with an area of up to forty square meters. BJP’S policy is gainful and positive for possible home buyers for a low cost housing programme by the time the country completes 75 years of its freedom and each family will have a dream home of its own. It talks about a creatively designed scheme that unites different existing programmes and also encourages the residential sector by applicable policy interferences, where compulsory.

According to the latest report by National Housing Bank, the lack of housing in the inner-city areas is around 18.78 million residential units. Almost 95% is in the low income group and economically weaker sector. At instant, housing takes a high risk weight and banks are more concerned when lending to the residential sector. With the infrastructure status in the place, the risk weight will decrease and well known banks will become more luxurious and comfortable giving the loans to leading builders, “said by the official source. The right decision is expected to be made soon by Venkaiah Naidu, new minister for inner-city development, town and lodging poverty improvement.

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