Reducing Levies and Fast Tracking Approvals: The Key to Boosting Mid-Income Housing
With luxury and premium housing on the rise, mid-income housing is struggling due to high interest rates and lower supply in top cities. Developers say reducing levies and fast-tracking approvals can help revitalize the sector.
Mid Income HousingReal EstateLeviesApprovalsAffordable HousingReal Estate NewsJun 16, 2024
Frequently Asked Questions
What is the current state of the Indian housing market?
The Indian housing market is experiencing a dichotomy, with luxury and premium housing segments witnessing strong growth, while mid-income housing is facing headwinds.
What are the major challenges facing the mid-income housing sector?
High interest rates and lower supply in top cities are the major challenges facing the mid-income housing sector.
How can state governments help revitalize the mid-income housing sector?
State governments can help revitalize the mid-income housing sector by reducing levies and fast-tracking approvals.
What is the impact of high levies on the cost of a house?
High levies and approvals constitute more than 50% of the cost of a house in big cities.
How can the approval process be improved for mid-income housing projects?
The approval process can be improved by implementing single-window clearance for projects and streamlining lending procedures.
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