Housing sector to get infrastructure status to make it affordable to own a home

With an aim to provide affordable homes for all including economically weaker section, the government is actively considering granting of infrastructure status to the housing sector in the near future. The matter is being taken up with the Finance Ministry and Reserve Bank of India and a favourable decision is likely to be announced in the coming Budget session, said a senior Housing and Urban Poverty Alleviation (HUPA) official today. Besides, the ministry is also trying to provide income tax and service tax benefit to the sector, the official said. Infrastructure status will boost the housing sector by providing easy access to funds and consequently increasing the availability of houses.

With an aim to provide affordable homes for all including economically weaker section, the government is actively considering granting of infrastructure status to the housing sector in the near future. The matter is being taken up with the Finance Ministry and Reserve Bank of India and a favourable decision is likely to be announced in the coming Budget session, said a senior Housing and Urban Poverty Alleviation (HUPA) official today. Besides, the ministry is also trying to provide income tax and service tax benefit to the sector, the official said. Infrastructure status will boost the housing sector by providing easy access to funds and consequently increasing the availability of houses.

[via India Properties – Real Estate India – Indian Property News Site]

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