While home loan borrowers were hoping for a rate cut that would have reduced their EMIs, the RBI decided to maintain the status quo. Experts believe that a stable repo rate will keep the residential momentum going.
16th NAREDCO National Convention Shapes India s Housing Future aninews.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from aninews.in Daily Mail and Mail on Sunday newspapers.
Kaushal Kishore: Manoj Joshi, secretary, ministry of housing and urban affairs, said that the central government is encouraging all states to increase state property tax, as per the recommendation of the 15th Finance Commission.
The government is reportedly working on a scheme to help the middle class purchase or construct their own homes. Manoj Joshi, Housing and Urban Affairs Secretary, announced this at the inauguration of the National Convention for the real estate association NAREDCO. Joshi emphasized the critical role of real estate in India becoming a $30 trillion economy by 2047 and stressed the need to promote affordable housing. The government is focusing on urban infrastructure and planning reforms, and Finance Minister Nirmala Sitharaman recently mentioned launching a scheme to assist the middle class in acquiring homes.