MUMBAI: Hailing the government's decision to grant infrastructure status to affordable housing segment, experts believe it will provide ample push for the sector as developers will now be able to get access to preferential and lower borrowing rates from banks. Affordable housing getting infrastructure status will enable efficient supply of housing stock in the country and provide benefits associated with it," CREDAI national president Getamber Anand said. This announcement will surely provide ample push for the affordable housing sector in India, a key initiative under housing for all." "On the other hand, long term financing at lower rates will reduce costs of construction for developers allowing them to pass on benefits to consumers. The new status will increase the resource allocation for the sector, catalysing housing supply and reducing the supply gap," he said.

Source: Economic Times February 01, 2017 10:15 UTC