Clarity on affordable housing definition key to boost PMAY scheme

Infra status will help in accessing cheaper funds for development of low-cost homes

Through a host of sops for the affordable housing segment, the budget tried to iron out both demand and supply side issues restricting its growth so far. Granting infrastructure status to affordable housing, increasing the size of houses eligible for credit under the Pradhan Mantri Awas Yojna (PMAY) by about 30 per cent and extension of tax exemption granted to complete such products from three years to five years are amongst the major measures announced. Increase in refinance loans extended by National Housing Bank to individuals to Rs 20,000 crore in FY18 is another.

Sudhin Choksey, managing director (MD) & chief