The Ministry of Housing and Urban Affairs has asked the National Housing Bank (NHB), HUDCO and public-sector banks to more proactively promote the Credit-Linked Subsidy Scheme (CLSS) of the Pradhan Mantri Awas Yojana (PMAY) (Urban) to meet the target of Housing For All by 2022.

Being pegged as a revolutionary tax reform since Independence, the Goods and Services Tax (GST) is likely to eliminate the complex and ambiguous tax structure plaguing the country currently.

The union government has proposed a public private partnership (PPP) Policy, under which affordable housing will be provided land in order to boost housing development. The Ministry of Housing and Urban Poverty Alleviation (HUPA) has formed the model of PPP policy for affordable housing to induce the developer to explore extra developable area.

The Monetary Policy Committee (MPC) review meeting has concluded, announcing no policy rate change (repo rate stays at 6.25 per cent, the reverse repo rate at 6 per cent, and marginal standing facility rate at 6.5 per cent). It maintained its neutral monetary policy stance, but significantly softened its tone on inflation. Five out of six members were in favour of the monetary policy decision.

A greater part of the country's developers appear to be on a ‘Mission Project Completion’ nowadays, possibly it is an impact of RERA.

One of the best thing to happen to real estate sector is the industry status being given to affordable housing. This will help in increasing liquidity as banks will be more keen to extend loan to the developers for affordable housing. To promote affordable housing, the Finance Minister said that the scheme for profit linked income tax exemption for promoters of affordable housing will be broad based. Instead of built-up area of 30 and 60 sq m, the carpet area of 30 and 60 sq m will be counted.

According to Deepak Kapoor, President, CREDAI western Uttar Pradesh, “A lot many aspects have to be looked into when it comes to the real estate sector. The government has to realise that the sector is catering to one of the most important aspects of people, ie housing.