The Government of India has undertaken a number of initiatives to promote real estate transactions. The government is giving priority to the expansion of affordable housing and is working to strengthen the existing system of financing so that stalled projects can be reclaimed. In the first week of December last year, the Government of India extended the deadline for providing permanent housing to all rural households till 2021.
An additional Rs 2.17 crore will be provided by the Center and the states for the construction of 2.95 crore houses under the central government’s ambitious Pradhan Mantri Awas Yojana Grameen. Also, the Reserve Bank of India has not changed the repo rates. It is expected to decide whether to increase or decrease repo and reverse repo rates. It will be interesting to see how the efforts made at the government level to promote the construction sector in general bear fruit in the future.
Courtesy : Maharashtratimes.com