Un­der­stand­ing hous­ing Fi­nance

Realty Plus - - Contents -

TPost bud­get and with var­i­ous hous­ing fi­nance schemes launched for af­ford­able hous­ing, the home fi­nance seem to have be­come at­trac­tive for the com­mon home buyer. he Bud­get 2018 pro­posed al­lo­ca­tion of a ded­i­cated af­ford­able hous­ing fund in col­lab­o­ra­tion with Na­tional Hous­ing Bank sup­ported from a pri­or­ity sec­tor lend­ing and fully ser­viced bonds au­tho­rised by the Gov­ern­ment. Bud­get 2018 also an­nounced sev­eral in­cen­tives for the poor, by in­creas­ing al­lo­ca­tion for the EWS and the LIG to Rs 10 bil­lion and dou­bling the sub­sidy amount to Rs 8 bil­lion. This is fur­ther ex­pected to boost the de­mand and sup­ply of low-cost homes. The Prad­han­man­tri­awasy­o­jana (PMAY) scheme avail­able for first­time home buy­ers aims to pro­vide 20 mil­lion houses for the ur­ban poor by 2022, dis­burs­ing financial as­sis­tance of Rs 2 tril­lion. To boost the in­ven­tory of af­ford­able homes by FY19, the gov­ern­ment plans to build 51 lakh homes in ru­ral ar­eas and has pro­vided as­sis­tance to con­struct 37 lakh home un­der PMAY. The Gov­ern­ment has al­ready been taking sev­eral note­wor­thy steps to build a con­ducive en­vi­ron­ment for the growth of the af­ford­able hous­ing sec­tor. The pre­vail­ing ecosys­tem cou­pled with pow­er­ful gov­ern­ment re­forms such as the Real Es­tate Reg­u­la­tory Act (RERA), Good and Ser­vices Tax (GST) and the Smart City scheme “All the re­cent gov­ern­ment ini­tia­tives have cre­ated a favourable en­vi­ron­ment for the real es­tate and en­hanced con­sumer in­ter­est to­wards pur­chas­ing af­ford­able homes. Con­sid­er­ing all these fac­tors, home loans have def­i­nitely be­come more at­trac­tive post Bud­get 2018. DHFL through its deep un­der­stand­ing of the tar­get seg­ment and strong dis­tri­bu­tion net­work has been lever­ag­ing these op­por­tu­ni­ties which are re­flected in our steady growth,’ com­mented Harshil Me­hta, JMD & CEO, DHFL Me­hta pointed out the fac­tors to be con­sid­ered while opt­ing for home fi­nanc­ing schemes.

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