Affordable Houses

CGHB unveils Rs 2,060 crore plan for 12,000 homes as revenue rebounds

Realtors body NAREDCO has urged state governments to reduce stamp duty on registration of affordable homes priced up to Rs 45 lakh per unit to boost demand and supply of low-cost apartments. Addressing NAREDCO's annual convention here, the association's president G Hari Babu pointed out that sales and launches of apartments, each costing up to Rs 45 lakh, have declined because of rising costs of land and construction. "States should bring down the stamp duty on registration of affordable homes to 1 per cent for women and 3 per cent for men," he told PTI. The president said that the stamp duty at present is between 5 per cent and 10 per cent across states. Hari Babu also suggested that states should focus on slum redevelopment to boost the supply of affordable housing. NAREDCO Chairman Niranjan Hiranandani too expressed concern over the decline in launches and sales in the affordable housing category. NAREDCO and real estate consultant Knight Frank India released a report, 'Afford

Altum Credo will use the funds to expand credit access for low-income households, strengthen IT systems, and scale operations across existing geographies

The Goa government has completed the construction of 250 houses out of the target of 254 for eligible beneficiaries under the Pradhan Mantri Awas Yojana (PMAY), an official said on Thursday. The project, aimed at providing affordable housing, has been implemented at a total cost of Rs 3.4 crore, the official said. Under the project, there was a target of constructing 254 houses for eligible beneficiaries in the state, said P K Shirodkar, nodal officer in-charge of the scheme and director of the District Rural Development Agency. "We have constructed 250 houses till date by meticulously following all the procedures under this scheme. The remaining four houses will be completed within the next two to three months," Shirodkar said. The Goa government led by Chief Minister Pramod Sawant has spent Rs 3.4 crore for the project till date, he said. The Pradhan Mantri Awas Yojana is a flagship scheme of the Centre under the leadership of Prime Minister Narendra Modi and the government is

India's 15 major tier-II cities witnessed a 35 per cent fall in new supply of housing properties to 30,155 units during January-March, according to PropEquity. Real estate data analytics firm PropEquity said the new supply stood at 45,901 units in the first quarter of 2024 calendar year. Samir Jasuja, Founder and CEO of PropEquity, said, "The decline in supply is a result of cautious approach and shifting priorities by developers. Financially robust developers with strong balance sheet look to launch premium homes in order to increase their profit margin." As per the data, new housing supply in Ahmedabad fell 35 per cent to 11,096 units during January-March 2025 from 17,108 units in the year-ago period. Gandhinagar saw a decline of 10 per cent in housing supply to 4,356 units from 4,825 units during the period under review. Fresh housing supply slipped 39 per cent in Surat to 3,309 units from 5,439 units. In Nashik, the new supply decreased 2 per cent to 2,466 units from 2,509 ..

New launches in India's top 15 tier 2 cities decline steeply, led by a 54% slump in affordable homes and a shift toward mid- to high-value segments

According to Anarock, housing sales across the top seven Indian cities declined by 28 per cent in Q4 FY25, driven by soaring residential prices and geopolitical headwinds

Ultra-high-net-worth individuals in India typically own more than two properties, with nearly 12% of them planning to buy another home this year, according to Knight Frank's wealth data

Over 25 per cent of households trading a London home for one outside the capital moved more than 100 miles away in the first half

Economic growth in India, Asia's third-largest economy is expected to continue outpacing its major peers

Local state-owned enterprises would be asked to help purchase unsold homes from distressed developers at steep discounts using loans provided by state banks, according to two of the people

Share of affordable homes -- priced up to Rs 45 lakh each -- in total housing sales more than halved to 22 per cent during January-March across top eight cities amid strong demand for luxury flats, according to PropTiger. Share of affordable homes in total housing sales stood at 48 per cent in the January-March period of 2023 calendar year. Housing brokerage firm PropTiger.com data showed that housing sales grew by 41 per cent to 1,20,640 units during January-March 2024 across top eight cities from 85,840 units in the corresponding period of the previous year. In the total sales of 1,20,640 units during January-March, the share of homes, priced less than Rs 25 lakh each, was 5 per cent. In the same period last year, the share of this low-cost housing category in total sales was 15 per cent. The share of homes, priced Rs 25-45 lakh each, was 17 per cent during January-March 2024 as against 23 per cent share in the corresponding period of the previous year. "There has been a remark

The underlying nominal GDP growth assumption of 10.5 per cent for the Budget and tax collection estimates are realistic

Union Minister Nitin Gadkari on Friday said shifting focus from large size homes to small units, use of new technologies and construction methods as well as application of innovative construction material will significantly help in reducing the cost of homes. Addressing the 40th Annual General Meeting of the Confederation of Real Estate Developers of India (Credai) Pune Metro, he said there was need for decentralization from 'smart cities' to 'smart villages' that can be connected to cities with an efficient road network. A miniscule percentage of the country's people can afford houses with price tags of Rs 1 crore or more and the country's masses should be at the centre of approach to housing construction, a release quoted Gadkari as saying. He cited examples of how cost of construction for infrastructure projects was reduced by his ministry by applying innovative construction technology and materials, adding the same concepts can be extended to housing construction to reduce price

The outlook was more upbeat and stable compared with companion polls of property markets in developed economies, where house prices are expected to fall or stagnate after surging as much as 50%

Prime Minister Narendra Modi on Tuesday said the government will soon launch a scheme to provide relief in interest of bank loans to those dreaming of their own house in cities. Addressing the nation on the 77th Independence Day, Modi said his government will soon launch the scheme for middle-class families who live in cities but do not own a house. The prime minister said that poor people living in cities without a house face difficulties. "Middle-class families are dreaming of their own house in cities. We will soon launch a scheme for them. "We have decided to give relief in bank loan interest by providing a help of lakhs of rupees to families living in rented houses, unauthorised colonies and shanties in cities, to build their own house," Modi said from the ramparts of the Red Fort. There is already a housing scheme -- Pradhan Mantri Awas Yojana Urban (PMAY-U) -- for the urban poor. The prime minister launched the PMAY-U on June 25, 2015, to provide pucca houses with basic .

He added that the government provided free ration to 7.4 million people in Delhi to deal with the food crisis during pandemic

Lavasa says 1.2 crore units under the Pradhan Mantri Awas Yojana will entail an expenditure of Rs 1,85,069 cr in three years

More than 26,000 new units have been launched in 2017 so far

Durga Shankar Mishra said the government has set a target of Housing for All by 2022