Thursday, 4 May 2017

A Comment on Housing Loans and Affordable Houses

My Comment on an article "Big players entering the affordable housing, housing prices could go down soon: Deepak Parekh, Chairman HDFC Ltd." published in the Dated 02/05/2017.

"Good news. Big Corporates and Developers are showing more interest in housing business with the new facilities offered through RERA act to both builders and customers. Now, builders need not pay tax on notional rent for the first year after obtaining the completion certificate of the building. So, they have one full year to sell their flats without incurring any extra burden.

But, from the viewpoint of the customers, and as myself being a middle-class person, I request our Banks and Government that loan facilities should be extended for the full 100% cost of the house instead of the present 80 or 90 per cent loans. Then only people could be in a position to buy their own homes. Otherwise, it is very difficult for people like me to arrange for even lakh that is essential as the deposit to get a housing loan."

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