Financial Daily from THE HINDU group of publications
Saturday, Jun 19, 2004

News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Industry & Economy - Budget
Money & Banking - Housing Finance


Cheap housing loans for poor urged

Our Bureau

New Delhi , June 18

THE real estate industry has called for measures to promote low-cost housing for the poor. Defining low-cost housing projects as tenements of less than 500 square feet built-up area, real estate developers have asked the Government to provide hassle-free and cheap loans to people who are below the Rs 6,000-monthly income bracket.

In the pre-Budget memorandum submitted to the Government, the Confederation of Real Estate Developers' Associations of India (CREDAI) also suggested that the Centre give incentives to housing finance companies and banks providing loans to low-income groups as well as to employers providing housing facility to low-income groups. It has also called for tax exemptions for those builders who undertake similar projects.

CREADAI represents associations of real estate and housing developers from all over India. They have sought infrastructure status for the real estate development.

"The working group on housing in the tenth Five-Year Plan has found that 90 per cent of housing shortage estimated pertains to the weaker sections," CREDAI said. It asked the Government not to charge wealth tax on housing investments. The housing industry should also be allowed finances at concessional interest rates, it said.

It asked the Government to extend the time limit for Section 80IB(10), which provides tax incentives for housing loans, from March 2005 to March 2010.

More Stories on : Budget | Housing Finance | Industry Associations

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
Polystyrene industry seeks removal of dumping duty


IT industry does not need tax sops: Infosys chief
As phosphoric acid price shoots up — Paswan seeks higher fertiliser subsidy
Cheap housing loans for poor urged
New launches galore at AV Max exhibition
Workers worldwide pessimistic of financially secure retirement: Study
'CMP focus on farmers, rural infrastructure good for economy'
AP tribal village gets paid for pioneer green project for World Bank
`India, Brazil must exploit trade potential'
Tanzania seeks tie-ups with India in tertiary healthcare
New radiation technique to fight cancer
MERC for 8.5 pc cut in REL tariff
NHPC net up 22%; chalks out Rs 25,000-cr investment plan
`Upswing in steel sector fortunes likely to continue'
Steel regulatory body: Draft plan to be ready by Sept
`Steel exports dip despite bullish global trends'
States agree to implement VAT from April `05 — Force review of draft service tax Bill
Textile bodies call for steps to ward off `Chinese monopoly'
KSIA to meet SIDBI officials
`Exim policy to give thrust to job creation'
IIM-C to stick to old fee structure
`Stronger IIMs can't help weaker ones'
Hotel management courses
Washing machine makers expect 7% growth this year
Food for health
Assocham calls for infrastructure equity fund
Chamber urges options to uplift socially deprived
TELK: Kerala invites EOIs for stake sale
Left parties against divestment in BSNL
SBT housing scheme for rural poor
Kerala told to suggest changes in Emigration Act
`Sustain economic growth for human development'
In Hyderabad today
Assocham wants I-T exemption limit raised to Rs 1 lakh



The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line