The big realty firm, Supertech, has plans of investing Rs.4000 crore in the low-cost homes segment. According to the infrastructure status of the affordable housing announced in the Budget 2017, Supertech is expecting the demand to rise.
Supertech has planned over 40000 affordable homes in the coming years and to fund for the development of the same, several consultants are involved to raise Rs.1000 crore through ECB (External Commercial Borrowing).
Since the affordable housing segment has got a huge heave in the Budget, the current projects are also being converted and modified to affordable ones.
25% of the total investment required will be raised by Supertech, rest is likely to be funded by advances from customers and internal accruals.
PMAY (Pradhan Mantri Aawas Yojana) has some criteria to be met and the affordable housing projects would meet those criteria giving the buyers the advantage to get the loan subsidy up to 4 percent.
The different measures are taken by the government like the extension of the tax benefit under Section 80IB and giving infrastructure status to affordable housing segment.
Another good part is that the size of affordable housing has also been enlarged from 30 and 60 square meter of built up area to 30 and 60 square meter of carpet area.