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Housing finance & realty sector should collaborate

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Housing finance & realty sector should collaborate

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  1. Rural Housing Finance

  2. Housing finance & realty sector should collaborate

  3. 2014 was a year of hope. Along with the overall sense of optimism the new Prime Minister brought in, he specifically gave a positive nudge to the real estate industry through his hope of ‘a home for all by 2022’. • This in turn created an eco-system of opportunity for every connected industry, including the housing finance segment. • Riding on the high, lenders, developers and the government worked hard with a renewed sense of passion to boost the housing finance segment, and ultimately the real estate industry.

  4. The government was not far behind in pushing this sector. Many new initiatives and policies were put in place, specifically focused on lending for housing. • Perhaps the biggest highlight was moving to bring housing loans of up to Rs.50 lakh under priority sector lending, against loans of up to Rs.25 lakh earlier. • The RBI also abolished any pre-payment penalty on floating-rate housing loans in 2014. This was aimed to be a shot in the arm for developers and increase demand in real estate. • The increasing of the tax deduction limit on interest of Rural Housing Finance to Rs 2 lakh by Mr. Jaitley gave the prospective homebuyers & industry more reason to cheer.

  5. Each of these entities has their own associations and industry platforms to discuss and develop key initiatives for their business. • While the real estate industry has CREDAI, the banking industry has the Indian Banks Association (IBA). • Collaboration between these associations and the government to work together for efforts the improving the industry in the future would be the key in 2015. • It would ensure that the enthusiasm and commitment shown by each entity in 2014 through their work does not go in vain. • [Source: http://blogs.economictimes.indiatimes.com/et-commentary/housing-finance-realty-sector-should-collaborate-for-mutual-benefit-in-2015/]

  6. Click to know more on Rural Housing Finance : https://www.hdfc.com/housing-loans/rural-housing-finance Thank You…

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