Showing posts with label CLSS. Show all posts
Showing posts with label CLSS. Show all posts

Tuesday, May 19, 2020

Affordable Rental Housing For Migrant, Finance Minister Gives Push to Urban Poor


To relieve the real estate sector of some tension, Finance Minister Nirmala Sitharaman said that the government was extending a one-year extension to the CLSS or Credit Linked Subsidy Scheme which started in 2017 and ended on March 31, 2020. Until March 2021. This will help boost the demand for affordable housing.

The extension of the credit link subsidy scheme for a year will encourage many potential house buyers to buy houses, thereby increasing demand for affordable housing. There is currently a lot of untold inventory in the industry.

The mega-move will also help in maintaining employment as real estate is one of the largest labor intensive industries supporting around 200 allied industries. The proposed affordable rental accommodation under PPP is a welcome step. This will effectively help the issues of majority migrant laborers. Most of these urban poor live in miserable condition

Industry experts believe that the government's move to affordable housing in the last six years has been a great step forward. Its 'Housing for All by 2022' project has resulted in many soaps and incentives. In the last few years there has been a significant increase in buyer activities in the affordable segment.

Allowing new units and players to enter the affordable housing segment to build these rented dwellings, allowing manufacturing units and industries to take concessions and follow the same BOT model as road projects will do.