Wednesday, July 16, 2014

CREDAI welcomes #RBI decision of easing financing norms for Affordable Housing

Confederation of Real Estate Developers’ Associations of India (CREDAI) the apex body for private real estate developers in India welcomes the RBI decision of easing financing norms for Affordable Housing. Providing infrastructure status to the Affordable Housing segment is a long pending demand, CREDAI is backing for. Though the demand is still pending, but the recent step of easing the reserve bank norms for banks has helped us to achieve partially.

Speaking on the development Mr. C Shekar Reddy, President CREDAI National said, “By easing the financing norms for Affordable Housing, RBI has put its best foot forward in order to achieve the Central Government’s goal of Housing for Everyone. The move of allowing the banks to issue long term bonds in order to raise resources for lending to Affordable Housing is appreciable. The decision will make the affordable housing projects attractive for developers and more builders will be coming together to initiate such projects throughout the country.”