Sunday, 15 April 2012

Affordable homes more difficult to buy

Union finance minister Pranab Mukherjee's leaving the cap on interest deduction of Rs 1.5 lakh untouched and retaining the limit on loan amount eligible for 1 per cent central interest subvention has disappointed many. Liberalizing both provisions would boost to buyer interest.
The budget has encouraged Affordable homes in Mumbai sector in the form of enhanced budgetary support and institutional support by creating a Credit Guarantee Trust fund and allowance of ECB in affordable housing.
Lack of social infrastructure is a cause of worry. Though integrated townships, which which provide everything from schools, and healthcare to malls and multiplexes, like Hiranandani Palace Garden at Oragadam, Estancia on GST Road, and DLF on OMR are being developed, there aren't similar facilities in stand-alone residential projects.
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