Govt asks bankers to pitch in with Rs 1,000 crore for scheme

New State-Level Housing Regulatory Authority Soon

Gandhinagar: TheGujarat government is expected to announce an affordable housing policy during the forthcoming budget session of the assembly. Officials of the state’s urban development department, revenue department and finance department are burning the midnight oil to give final shape to the ambitious plan, which was a poll promise made by chief minister Narendra Modi in the run up to the December assembly polls.

CM promises quality power supply to rural, urban areas

The Karnataka government will soon come out with a new housing policy to ensure that people from lower and middle income groups will have houses of their own, Chief Minister Jagadish Shettar informed the Legislative Assembly on Tuesday. Replying to the discussion on the motion of thanks to the Governor’s address, Shettar said the government will unveil an “affordable housing scheme” soon.
He said the government had given priority to housing for the poor during the last five years. It had constructed 55,000 houses for the people of North Karnataka, who were affected by severe floods in 2009, he added.

AHMEDABAD: When the state urban housing and urban development department offered the much-awaited concessions in FSI rates for affordable houses along SP Ring Road on Monday it clearly spelt out th

AHMEDABAD: It's not Ahmedabad alone that is aiming at the tall order, but major cities in the state have been given the go ahead with higher FSI limits by the state urban development department (UD

Mumbai: The Maharashtra Housing and Area Development Authority (Mhada) has envisioned a Rs5,000-crore project to redevelop its housing colonies on its own, instead of letting private developers walk away with profits.

It will utilize portions of the sprawling housing societies to build 10,000 affordable homes after rehabilitating its tenants. But housing industry sources are sceptical about Mhada’s plan taking off, as tenants have got more lucrative offers from builders, including larger homes.

Hit by slackening demand amid economic slowdown and high interest rates, the real estate sector has asked for infrastructure status for the housing sector in the Budget for 2013-14, which would help it avail of tax benefits and easier flow of credit. The housing ministry has said at least low-cost housing should get this status.

The National Real Estate Development Council (Naredco) said the sector should get infrastructure status and rental housing should be made more attractive to address the shortage of houses.

Shot in arm: Total FSI for saleable residential projects increased up to 1.7

Over six years after it introduced the Special Township Project (STP) scheme to promote self-sustainable micro-economic hubs in and around urban centres in Maharashtra, the state government on Sunday finalised several modifications to the existing policy. While the total FSI for saleable residential projects has been increased from 1 to a maximum of 1.7, the government has also increased the component of low-cost housing and the area that has to be reserved for economic activities within the township.

Housing and Urban Development Corporation (HUDCO), on Wednesday, announced the launch of its public issue of tax-free bonds that aims to mop up around Rs.5,000 crore for lending to low-cost housing and urban infrastructure projects.

For retail investors, the bond issue carries a coupon rate of 8.01 per cent per annum for a 15-year maturity, and 7.84 per cent for 10 years. An investment of up to Rs.10 lakh would qualify under the retail category. “HUDCO has launched its tax-free bonds to raise up to Rs.5,000 crore for lending to housing and core infrastructure projects.

New Delhi The special extra-commercial borrowings (ECB) window for low-cost housing projects will be subject to a cap of $1 billion to start with. The detailed norms for ECB access to this segment, which is facing a funds crunch, are likely to be announced soon, say government sources.

In August, the government had allowed designated housing finance companies and the National Housing Bank (NHB) to access overseas loans for the specific purpose of financing low-cost housing. ECB would be permitted in housing projects where 60% of the total area is devoted to low-cost houses having a carpet area of 60 sq metres, sources said.