Low-cost house buyers in Pune peripheries to benefit

Low-cost house buyers in Pune peripheries to benefit

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Low-cost housing in the peripheral areas of main cities is expected to get a boost with the government’s decision to provide subvention of 3% and 4% for loans up to Rs 12 lakh and Rs 9 lakh, respectively, under the Pradhan Mantri Awas Yojana.

Sachin Kulkarni, the managing director of Vastushodh projects, who is into affordable housing, said almost 70% of their recommendations had been implemented through the announcement for the affordable housing sector. “The first time buyers will stand to benefit with these discounts. The announcement on increase in subsidies on loan amounts is a big step towards housing for all,” he told TOI.

He, however, said it has to be seen if it will convert directly to less interests or come in the form of subsidies.

Gajendra Pawar, the president of Marathi Bandhkam Vyavasaeek Association, said fringe and rural areas would see more housing projects, which will boost the realty sector.

CREDAI, Pune, vice-president Rohit Gera said the announcement would positively impact real estate for the affordable sector.

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