{"id":151,"date":"2021-02-03T12:29:52","date_gmt":"2021-02-03T12:29:52","guid":{"rendered":"https:\/\/www.migsun.in\/blog\/?p=151"},"modified":"2026-02-16T11:13:34","modified_gmt":"2026-02-16T11:13:34","slug":"union-budget-2021-affordable-housing-back-in-demand-housing-for-all-remains-on-priority","status":"publish","type":"post","link":"https:\/\/migsun.in\/blog\/union-budget-2021-affordable-housing-back-in-demand-housing-for-all-remains-on-priority\/","title":{"rendered":"Union Budget-2021: Affordable Housing back in demand, &#8216;Housing For All&#8217; remains on priority"},"content":{"rendered":"\n<p>The government&#8217;s focus on affordable housing and rental\nhousing is praiseworthy. The tax exemption for the same\u2014be it on the interest\npayable on the housing loan for affordable housing elongated by one more year\nand the tax holiday for companies providing affordable housing\u2014is a clear\nimplication of the government&#8217;s priorities on housing for all by 2022.<\/p>\n\n\n\n<p>As we enter 2021 with new union Budget, the notion of\nhistoric sales could slow a bit but will continue to be vital to describe a\npositive story. Unlike the past year, the real estate sector is now banking\nwith home buyers willing to make a move. But in case of the affordable housing,\nthe trends are going on the tide and show a remarkable rise in homebuyers&#8217;\ninterest.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"1020\" src=\"https:\/\/www.migsun.in\/blog\/wp-content\/uploads\/2021\/02\/Yash-Miglani-1024x1020.jpg\" alt=\"\" class=\"wp-image-153\" srcset=\"https:\/\/migsun.in\/blog\/wp-content\/uploads\/2021\/02\/Yash-Miglani-1024x1020.jpg 1024w, https:\/\/migsun.in\/blog\/wp-content\/uploads\/2021\/02\/Yash-Miglani-150x150.jpg 150w, https:\/\/migsun.in\/blog\/wp-content\/uploads\/2021\/02\/Yash-Miglani-300x300.jpg 300w, https:\/\/migsun.in\/blog\/wp-content\/uploads\/2021\/02\/Yash-Miglani-768x765.jpg 768w, https:\/\/migsun.in\/blog\/wp-content\/uploads\/2021\/02\/Yash-Miglani-500x498.jpg 500w, https:\/\/migsun.in\/blog\/wp-content\/uploads\/2021\/02\/Yash-Miglani.jpg 1280w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>There was a severe impact on the Real Estate Sector during\nthe pandemic which sank the Indian economy in early 2020. Expectations for the\nsector consequently are eagerly awaited every year. Though the government has\nfrom time-to-time made important announcements to boost housing that has\nsupported the industry. With infrastructure being propped up, we can expect\nbetter mobility of the masses, better public transport and gauge getting a\nremark in this year&#8217;s budget, thus reducing the current infrastructure&#8217;s\nstress. <\/p>\n\n\n\n<p>These have been aided by cuts in stamp duty rates by states,\nsuch as Maharashtra, and interest rates for housing at historic lows. Keeping\nthe government&#8217;s stated objective of Housing for All by 2022, a sub-segment\nthat has and will need attention in the forthcoming budget is affordable\nhousing. In this connection, it is suggested that the last date for availing\nthe Pradhan Mantri Awas Yojana (PMAY) Credit-Linked Subsidy Scheme (CLSS) both\nfor the MIG-I and MIG-II categories be extended to March 31, 2022, as is the\ncase with the scheme for LIG\/ EWS category. This CLSS has played an essential\nrole in improving affordability in these categories.<\/p>\n\n\n\n<p>Mr Yash Miglani, MD, <strong><a href=\"https:\/\/migsun.in\/\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-cyan-blue-color\">Migsun Group<\/mark><\/a><\/strong>, says, &#8220;The budget announcement is indeed progressive and will support the industry in several ways. The affordable homes market can take care of the housing difficulty of the citizens of the country to a large amount. The real estate industry is at the cusp of a transformation in the country. The FM&#8217;s twin declaration on rental housing and affordable housing both will contribute a lot of support to the sector. Nevertheless, the government could have done more to relieve some of the pandemic caused pains for the industry, which is sadly missing. The pandemic has bought a heavy blow to the industry and any short-term easy funding solution for the developers could have made the deal more generous.&#8221;<\/p>\n\n\n\n<p>(Source- ET\/Zee Business)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The government&#8217;s focus on affordable housing and rental housing is praiseworthy. The tax exemption for the same\u2014be it on the interest payable on the housing loan for affordable housing elongated by one more year and the tax holiday for companies providing affordable housing\u2014is a clear implication of the government&#8217;s priorities on housing for all by [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":154,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-151","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Budget Renews Focus on Affordable Homes in India<\/title>\n<meta name=\"description\" content=\"Know how Union Budget 2021 empowers affordable housing with tax reliefs, incentives and Housing For All reforms creating a positive 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