Banks must be allowed to fund developers for land acquisition: Parekh

The affordable housing segment has missed out on the housing boom that the country has been witnessing in recent years, says Deepak Parekh, chairman of HDFC Life Insurance and HDFC Asset Management Company. In a Fireside chat with Business Standard’s consulting editor, Tamal Bandyopadhyay, Parekh says there’s a need to provide builders with an impetus to launch projects in the affordable housing space, along with allowing bank credit for land acquisition, albeit with some conditions. The veteran finance czar said such a move would help bring down the cost of housing. Edited excerpts: 

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