HDIL to Introduce New Budget Homes Brand in Mumbai

Looking at the government’s decision to grant affordable housing infrastructure status in the Union Budget 2017, the realty developer Housing Development and Infrastructure Limited (HDIL) has planned to initiate its new budget homes brand in Mumbai Metropolitan Region (MMR).

The new homes budget offers affordable homes with stamp duty and registration in Mumbai Suburbs under the price range of Rs 50 lakh and in Vasai – Virar region under Rs 20 lakh. This new launch shows the builder’s confidence on the centre after the budget announced on February 1, 2017.

The Centre’s motive to complete its scheme Housing for All by 2022 under Pradhan Mantri Awas Yojana (PMAY) will be given major push as many of the biggest player is going to focus on affordable housing sector. After receiving infrastructure status, many of the affordable housing developers can seek for fund from financial institutions since the interest rates and tax exemptions are dropped.

Till date, HDIL has over 100 million sq. ft. commercial, retail and residential developed space and about a total of 200.8 million sq. ft. reserved land under its name.

Source: ET Realty

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s