A SHOT IN THE ARM

– According infrastructure status to affordable housing will lead to several benefits, especially cheaper funding and more affordable housing stock says Shilpa Sachdev (Times Property)

Manoj John – VP: Corporate Planning & Strategy, RNA Corp says, “With cost of land, and construction costs increasing dramatically, it’s critical that the cost of funds be lower to encourage more development. The relaxed leading norms for construction activity and home finance would free up a larger corpus of funds for banks to disburse without getting capped due to risk parameters. In recent times ECB has been allowed in affordable housing, but with an industry status it’s expected that even FDI policy would be more broad-based allowing for more foreign real estate funds to participate.”