The scheme for ‘Affordable Housing for All’ increased by 27 percent with the help of various initiatives taken by the government. From 20,485 units it raised to 26,081 units across eight cities during January-September this year, a recent study said.
Till September 2017, Mumbai witnessed the highest number of launches at over 19,400 new residential, out of which housing scheme had a share of 10,000 units. This indicates a rise of 300% over the same time last year.
Among these new launches almost 40 percent of affordable housing projects were launched in Mumbai, followed by Kolkata and Pune said real estate developers’ body Credai-MCHI.
Credai-MCHI President Mayur Shah said in a statement, “The market is looking up with the positive festive season when developers are receiving a good number of enquiries. There’s festive mood in the market, thus demand is picking up starting Diwali season.”
The execution of Goods and Service Tax (GST) and Real Estate Regulatory and Authority (RERA) has raised the confidence of home-buyers, who were swinging in difficulty to buy a home.