Home loans upto 50 lakhs under priority sector lending (PSL) is a positive step,says President CREDAI

Speaking at the inauguration of 14th NATCON organized by CREDAI in Jakarta, Indonesia C. Shekar Reddy, National President CREDAI said, “With the New Government in India under the Prime Minister Sh. Narendra Modi   the government is taking right steps to introduce reforms required by the industry and are open for the suggestions to bring in the positive changes.  With a development focus union budget and steps like relaxation in norms of CRR & SLR by RBI the housing sector will grow. Bringing affordable housing project finance and home loans upto 50 lakhs under priority sector lending (PSL) will give a major boost to the small and medium developers which cater to the affordable housing segment. Moreover the government has incorporated CREDAI’s recommendation and relaxed the FDI norms for investment in the real estate which will act as a catalyst for growth.”