Dubai hosts Indian Budget Home Expo

dubai — Indian Prime Minister Narendra Modi’s scheme of providing housing for all by the year 2022 has triggered a big housing boom for budget homes across India.

A series of fiscal sops, infrastructure status to the affordable housing sector, subsidy up to ₹2.67 lakh for first time homebuyers and tax sops have convinced several developers including leading developers to focus on this segment aggressively due to huge demand existing in this sector across the country.

In order to showcase a wide variety of options available across India, Mindscape Events & Exhibitions is hosting an exclusive show for budget homes on February 23 and 24 at Crowne Plaza hotel, Sheikh Zayed Road, Dubai.

During the show, Gulf NRIs can analyse multiple housing options available from million onwards. Over 1,000 residential projects in the budget housing category from 50 Indian developers spanning 50 cities across India are providing ample opportunity for those seeking their dream homes across India. This is the first time such a wide variety of options are showcased, especially in view of the attractive fiscal incentives offered by the government and the inquisitiveness with which several builders are now entering the sector with enthusiasm to provide quality homes at affordable cost.

The Pradhan Mantri Awas Yojana (PMAY) scheme provided an interest subvention of 6.5 per cent for a loan upto ₹6,00,000 for the economically weaker sections (EWS) and lower income groups (LIG) till 2022. Subsequently the government introduced two new middle income group (MIG) schemes under the PMAY. These provide an interest subvention of four per cent and three per cent respectively for home loans upto ₹9,00,000 and ₹1.2 million.