CREDAI seeks support for development of affordable housing


NEW DELHI: Realtors’ body CREDAI today said the banks and housing finance companies need to support builders in the development of affordable housing projects as margins are low in this segment.

The interest in affordable housing has increased after this segment has been given the infrastructure status in the Budget, CREDAI-NCR President Manoj Gaur said.

“With increased interest in affordable housing, the sector needs more support from banks and housing finance companies to achieve the 2022 vision of ‘housing for all’. Due to low margins, we need special facilities from partners to fund construction,” Gaur said here at the CREDAI’s conclave.

He said the developers would be completely compliant with the definition of affordable housing when planning projects.

Property consultant CBRE released a white-paper and gave a positive outlook to the real estate industry saying that the impact of an unprecedented measure like demonetisation had only a short-term impact. It noted that the industry was moving towards increased transparency and governance reforms.

The white-paper also said that the sector was likely to witness the inflow of more formal sources of capital, with institutional capital likely to be infused into the sector in the longer term.