Housing Ministry Likely to Increase Subsidy on Homes for EWS

Ever since the NDA government came into power, affordable housing has been the prime topic in the Indian Real Estate Market. Many policies were launched and regulations were formulated to support the people in buying their dream homes. Another important step has been recently taken in this direction. The housing ministry intimated that it would increase the interest subsidy on the homes meant for the low income group and the Economically Weaker Section (EWS).

According to the reports of the Economic Times, an informal group of minister suggested this change while they were contemplating over the ‘Housing for All’ scheme one more time. It is also believed that one of the ministers from the group also suggested zero percent subsidy on these houses. The committee also said that the homes for EWS category should not be worth more than 5 lakh rupees. This will help people from all sections of the society in buying a dream home for themselves. [Read more...]

CREDAI says Developers in NCR follow Proper Safety Norms for Construction

It’s been more than a week to the devastating earthquake of Nepal but the after effects and the damage caused by it will continue to haunt the country and the entire world. This has also raised a concern about the safety of the high rises in such disastrous situations. The Confederation of Real Estate Developers’ Association of India (CREDAI) said in an interview with Economic Times that the builders in NCR are following all the safety norms to ensure the structural stability of the buildings if such calamities happen.

The Bureau of Indian Standards (BIS) has divided the country into four parts based on their susceptibility to earthquakes. Delhi/NCR falls under Seismic Zone IV which means that the area is highly prone to damages in case of quakes. Construction guidelines have been laid down by the National Disaster Management Association that have to be followed by the developers while planning their residential real estate projects. [Read more...]