Properties for Sale by Mantri

MakaaniQ tells why now is the time to opt for home buying over renting.

With the Union Budget 2017-18 having emphasised the importance of housing, according infrastructure status to this sector, things are expected to change for the better.

Under the new tax-evasion amnesty scheme – Pradhan Mantri Garib Kalyan Yojana (PMGKY) – the government recently said that only unaccounted domestic cash could be declared through it as jewellery, stocks, immovable property and foreign accounts don’t come under its purview.

The real estate sector is of strategic economic importance to the Indian economy, as it is the second-largest employment generator after agriculture and contributes about six per cent to India’s GDP. India would require about 11 crore housing units on a pan-India basis by 2022 to achieve the vision of Prime Minister Narendra Modi. To achieve this vision, streamlining of archaic norms and incentivising stakeholders is important.

Of all the policy initiatives, the Housing for All (Pradhan Mantri Awas Yojana) and the Smart Cities Mission are two major flagship policies that have affected the demand and supply trends of residential real estate, and have a huge impact on addressing the issues of informal housing / housing for the urban poor.