Under the proposed scheme, there will be tripartite agreement with member, bank/housing agency and EPFO for pledging future PF contributions as EMI payment.
The government's vision of "housing for all by 2022" may turn out to be an uphill task with developers keeping off low-cost housing projects citing regulatory hurdles, high land cost and low returns making such projects "unaffordable".
Fraudsters in Thane, Maharashtra, allegedly duped 11 residents by promising low-cost housing under a government scheme and forging their credentials to open bank accounts for larger financial transactions.
The minister was speaking at a seminar on low cost housing, organised by the Indian Building Congress.
India needs about 19 million low-cost homes -- roughly defined as costing a million rupees ($16,700) and below -- to shelter an urban population expected to nearly double to 600 million by 2030 from 2011.
After successfully dabbling in organised retail in 2006, Mukesh Ambani, chairman of India's largest private sector company, Reliance Industries (RIL), has now set his eyes on no-frills, low-cost housing."RIL has deep pockets and excellent execution skills. It has executed two large projects like the Jamnagar refinery and the KG-D6 basin in a record time. Another such large project is only obvious for the company to get into," said a source close to the development.
The government on Monday said low-cost housing loans of Rs 15 lakh will be eligible for one per cent interest subsidy, which will help in increasing the demand for such housing.
The houses that he designed, though low in cost, were high in value
After exporters, real estate companies are demanding a priority sector tag for loans to the low-cost housing sector.
Maruti Suzuki India Ltd (MSIL) is planning to offer low-cost houses to its 5,000 employees, as it tries to walk the extra mile to improve relations with workers.
Tata Housing, a unit of Tata Sons, is advancing its plans to build 15,000 low-cost dwelling units by two years. Besides, it should add 300 more houses in its Mumbai project to take the advantage of demand for such homes, a top company official said.Tata Housing had earlier planned to develop 1,000 houses under the brand 'Shubh Griha' in Bhoisar, a distant suburb of Mumbai, priced at Rs 3.9-6.7 lakh.
The move could streamline capital flows and help finance current account deficit
The prime minister's sop is expected to give a massive boost to priority-sector housing loans, thereby pulling the entire housing loan portfolio of banks.
Income from renting of properties is taxed at a flat rate of 10%.
Hadapsar in Pune is a resettlement colony. Rows of little houses here are a contrast to what one finds in slum settlements.
There will be tripartite pact with member, bank/housing agency and EPFO.
A new crop of lending agencies like Dewan Housing Finance, Gruh Finance, Micro House Finance Corporation, SEWA and Mahindra Rural Housing Finance have entered the market.
However, the cost for the coming round is yet to be decided; it will be below Rs 10 lakhs (Rs 1 million) for each unit offered, but how much below is not clear. Nor have the cities been decided.
Stamp duty, registration to be included in loan calculation
There is a shortage of 24.7 million housing units in urban areas at the beginning of the 11th Five Year Plan. Admitting the flaws in the housing sector planning for the huge gap between demand and supply, Selja said unfortunately the private sector only focuses on high-end housing and ignores low cost units.
At the heart of this debate is Section 3(d) of the Patents Act, a safeguard designed to prevent drugmakers from extending monopoly protection through trivial modifications to existing medicines.
For loan amounts lesser then Rs 25 lakhs, the interest rate should be lower and should scale up as the loan amount goes higher.
The question is no longer whether the war will expand. It has. The next few days will tell us whether the war stabilises around Hormuz or whether the Strait itself becomes the trigger for a far larger rupture. What to watch for over the next 48 hours is simple: Any move by the US toward direct naval control of the Strait; any credible Iranian attempt to disrupt or mine shipping lanes and, critically, whether energy infrastructure in the Gulf continues to be targeted.If those lines are crossed in tandem, the war will no longer be containable within the region.
For decades, multinational pharmaceutical companies and Indian drugmakers worked in ways that supported each other: MNCs brought innovation and brands, while Indian companies built scale through generics and cost efficiency. There was an important overlap - generic drugs - but this is shrinking fast. And the consequences are reshaping India's gigantic pharmaceutical market.
The company is also exploring the markets of Bangalore, Nashik, Panvel, Thane and Pune among other cities for the same.
Real estate developers in Mumbai propose to join hands to construct 5 lakh affordable houses for middle and lower income groups in partnership with the Maharashtra government in the next five years in the fast-growing Mumbai Metropolitan Region.
The Tata Group has begun scouting for a suitable candidate to head Air India, as the tenure of the incumbent, Campbell Wilson, will end next year, sources have said. Meanwhile, the Group is also looking to appoint a new managing director for its low-cost subsidiary Air India Express.
Margins for developers have fell to 15-20 per cent in affordable segment.
NPS Vatsalya offers a disciplined investment avenue that parents can use to create intergenerational wealth by contributing even small sums.
Provisions of RERA, subsidy under PMAY and relaxation in PF withdrawal to buy a house will aid affordable housing, points out Harsh Roongta.
In the Indo-Pacific's new era -- where perception shapes reality faster than treaties -- the real entrapment is not of China or the United States. It is the test Japan has set for itself -- and whether partners like India, acting as balancers rather than accelerants, can help ensure that the story ends in stability, points out Varun Arya.
The scheme is expected to activate the measures announced for the housing construction sector under the economic stimulus packages. It will increase the stock of houses ranging from 300 sq ft to 1,200 sq ft plinth area built at affordable rates on land provided by state governments.
Tata Housing Development Company, a unit of Tata Sons, expects to earn Rs 700 crore (Rs 7 billion) in revenue from low-cost housing in the next four years, a top company official has said.
While many areas compete for resources, defence, education, and adaptation deserve focus for maximum impact, suggests Laveesh Bhandari.
The most common mistake is investing without assessing suitability and long-term implications.
Passive funds have resumed gaining ground in the mutual fund (MF) industry after a slowdown in 2024, with their share of assets under management (AUM) reaching an all-time high in 2025. The surge has been driven largely by robust inflows into gold and silver exchange-traded funds (ETFs).
United States representative Sydney Kamlager-Dove while talking about the famous car selfie of Prime Minister Narendra Modi with Russian President Vladimir Putin said that it spoke a thousand words.
Unitech would launch affordable housing projects in seven cities this week. The projects would come up under 'Uni Homes' brand at an affordable price range of Rs 10-30 lakh (Rs 1-3 million). The projects would come up at Noida, Greater-Noida, Chennai, Kolkata, Rewari, Bhopal and Mohali.
Investors seeking higher returns at relatively higher risk should consider allocation to smallcap equity funds.
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