Affordable Housing to be given Infrastructure Status

The Union Minister for Finance and Corporate Affairs, Arun Jaitley while presenting the General Budget 2017-18 in Parliament has said that affordable housing will now be given infrastructure status, which will enable these projects to avail the associated benefits. The National Housing Bank (NHB) will refinance individual housing loans of about Rs. 20,000 crore in 2017-18.

Thanks to the surplus liquidity created by demonetisation, the Banks have already started reducing their lending rates, including those for housing. Jaitley in his Budget Speech said that in addition, interest subvention for housing loans has also been announced by the Prime Minister.

Source : urbannewsdigest