File photo shows some of the low-cost affordable housing projects that are being developed in Kolkata. Photo: Ashoke ChakrabartyThe real estate industry has reasons to cheer as Union Budget 2017 announced infrastructure status for affordable housing. Housing companies acknowledged the beneficial changes to the affordable housing segment as it would give a boost to housing construction for low-income groups. “This is very significant, because it will provide the vital budget housing segment with cheaper sources of finance including, but not restricted to, external commercial borrowings. Brotin Banerjee, managing director and chief executive officer, Tata Housing Development Co, too hailed the affordable housing announcement and said that a long-standing demand of the sector had now been met.

Source: The Hindu February 01, 2017 11:59 UTC