Tag: affordable housing

IndustryLatest Stories

What Real Estate Stakeholders Want from Budget 2026

NEW DELHI: With the Union Budget 2026 on the horizon, real estate developers and stakeholders are advocating for policy changes aimed at enhancing housing affordability, increasing liquidity, rationalizing taxes, and fostering long-term urban development. They are urging revisions in homebuyer incentives, adjustments in GST, and support for institutional capital and infrastructure initiatives to alleviate demand-side stresses and supply-side constraints. Industry leaders suggest that Budget 2026 is a key moment to realign housing policies with the realities of escalating land and construction costs, shifting buyer preferences, and the expanding role of real estate in India’s economic growth. Pradeep Aggarwal, the founder…

IndustryLatest Stories

Maharashtra links PMAY-Urban 2.0 to higher EWS prices

MUMBAI: The Maharashtra government has tightened the regulations under the Pradhan Mantri Awas Yojana (Urban) 2.0, requiring a minimum of 25% beneficiary registration before construction can begin or benefits can be accessed for certain affordable housing projects. This requirement applies to projects under the Affordable Housing in Partnership (AHP) and AHP-public private partnership (AHP-PPP) where the sale price of economically weaker section (EWS) homes exceeds the current annual statement of rates (ASR) by more than 20%. The updated guidelines, announced on January 23, were prompted by a review of detailed project reports (DPRs) submitted under PMAY (Urban) 2.0, which uncovered…

IndustryLatest Stories

Housing Revolution Needed: Niranjan Hiranandani, Naredco

NEW DELHI: The National Real Estate Development Council (Naredco) has pointed out a significant tax imbalance between corporations and individual taxpayers, urging the government to adjust income tax rates. The organization claims that individuals and partnerships engaged in business face substantially higher taxes compared to companies. Niranjan Hiranandani, chairman of Naredco, emphasized that while corporations generally pay an effective tax rate around 25%, individuals in similar business roles may pay up to 40%, including surcharges and cesses. “If a company is taxed at 25%, why should an individual or partnership in the same field face a 40% tax?” he questioned,…

IndustryLatest Stories

SWAMIH Fund Aids Completion of 61,000 Stalled Homes

NEW DELHI: The Special Window for Affordable and Mid-Income Housing, a government-supported stress fund, has successfully completed over 61,000 homes in stalled projects as of December 15. The fund is expected to deliver more than 100,000 homes, benefitting over 400,000 individuals, the Finance Ministry stated. “Demonstrating effective deal execution and responsible capital use, the fund has fully committed its entire investable corpus ahead of the investment period ending on December 5, 2025. “The fund’s portfolio includes over 145 projects across 30 cities, establishing SWAMIH (Special Window for Affordable and Mid-Income Housing) as the largest residential-focused stress resolution platform in the…

Latest StoriesResidential

Himachal Pradesh Promotes Eco-Friendly, Affordable Housing

SHIMLA: The Himachal Pradesh government is focused on promoting systematic development to ensure affordable and eco-friendly housing options that suit the state’s mountainous geography, as stated by Urban Development and Housing Minister Rajesh Dharmani on Wednesday. Minister Dharmani chaired a review meeting of the Himachal Pradesh Real Estate Regulatory Authority (RERA). He emphasized that RERA is crucial in safeguarding consumer rights within the real estate sector and facilitating the resolution of property disputes. The authority ensures transparency by providing essential information about real estate projects to homebuyers, thereby bolstering their confidence, he added. Officials reported that there are currently 269…

Latest StoriesResidential

Union Minister Launches Smart City Housing Project

PUDUCHERRY: Union Minister of State for Home Affairs, Nityanand Rai, inaugurated a multi-storied tenement under the Puducherry Smart City Mission on Saturday. Located in Chinnayapuram hamlet, these tenements provide affordable housing for the economically disadvantaged. The initiative benefited 220 sanitary workers who previously resided in deteriorated buildings, according to an official release. The event was attended by Lt Governor K Kailashnathan, Chief Minister N Rangasamy, PWD Minister K Lakshminarayanan, Puducherry Assembly Speaker R Selvam, Home Minister A Namassivayam, and BJP local president V P Ramalingam. The tenements consist of six blocks, equipped with essential infrastructure including internal roads, drinking water…

Latest StoriesResidential

Govt to Launch SWAMIH-2 Fund for 1 Lakh Stalled Homes

NEW DELHI: The government is in the final stages of shaping the SWAMIH-2 Fund, aimed at providing last-mile financing for the completion of delayed housing projects, according to sources. The introduction of the ₹15,000-crore fund is expected to benefit nearly 100,000 middle-class homebuyers whose investments are in limbo despite ongoing EMI payments on their housing loans. To support this initiative, the government has set aside ₹1,500 crore as seed capital for the Special Window for Affordable and Mid-Income Housing (SWAMIH) Fund in the 2025-26 budget. The mandates for the new fund are currently being finalized, with clearance anticipated soon. It…

Housing FinanceLatest Stories

LIC Housing Finance cuts new home loan rates to 7.15%

NEW DELHI: LIC Housing Finance Ltd announced on Monday that it has lowered its interest rate on new home loans to 7.15 percent. The new rates will take effect from December 22, 2025, with interest starting at 7.15 percent for newly sanctioned home loans. This decision comes as homebuyers continue to cautiously evaluate their purchasing choices, and the reduction is anticipated to enhance homebuyer sentiment. LIC Housing Finance aims to make home ownership more accessible with this initiative. This reduction follows the Reserve Bank of India’s Monetary Policy Committee’s recent 25 basis points repo rate cut. Published On Dec 22,…

InfrastructureLatest Stories

Public Transport Should Lead Urban Mobility, Says Housing Ministry

NEW DELHI: Union Minister of State for Housing and Urban Affairs, Tokhan Sahu, emphasized on Tuesday the need for public transport to become the primary mobility option in Indian cities. He highlighted that the increasing reliance on private vehicles is worsening air quality and traffic congestion, especially in the national capital. During a conclave hosted by the Delhi chapter of the National Real Estate Development Council (NAREDCO), Sahu stressed that urban planning should prioritize public mobility, enhance last-mile connectivity, and encourage housing developments near workplaces to boost the overall quality of life. He also noted that development must strike a…

Housing FinanceLatest Stories

Ajai Kumar Shukla Appointed MD and CEO of PNB Housing Finance

India’s PNB Housing Finance has appointed Ajai Kumar Shukla as its managing director and CEO for a five-year term starting December 18, resulting in a 5% increase in the mortgage lender’s shares. Shukla brings over 30 years of experience in housing and mortgage lending and will take over from Girish Kousgi, who was instrumental in accelerating the company’s growth in the affordable housing sector, outperforming its competitors. The announcement comes as significant home financiers face growing challenges from banks in the luxury home lending market, while affordable housing has become more appealing due to higher yields and limited competition. Currently…