Why is the English name of India India?

 Why is the English name of India India?

The focus on affordable housing in India has considerably increased in the recent years due to the various incentives and schemes which are being backed by the government. Also, as an icing on the cake, the home loans have become cheaper. So, this is indeed a high time when several investors and home buyers are purchasing the affordable housing in India. The Union Budget of 2017 announced the affordable housing to be the primary base of developing the "infrastructure" in the country. The businesses which are engaged in offering affordable housing are liable to receive cheaper loans from different nationalized banks and also certain tax concessions. Moreover, there are several foreign funding pouring in which is significantly boosting the infrastructure sector in India. With this particular move, the Indian government is aiming to provide the infrastructure sector in India a major fillip.

There are several property buyers in India who dream of owning their own houses within an affordable budget. Some of these buyers aim in purchasing the affordable housing for residential purposes whereas some intend to purchase these properties as an investment avenue. In case you are one of the many Indians who is planning to purchase an affordable housing, then it is high time to thoroughly analyze this before purchasing.

According to a survey report published by reputed real estate consulting firm Monitor Deloitte, the affordable housing projects are a very profitable business proposition for the developers. In most of the prominent cities in India like Mumbai and Delhi, the internal rate of return (IRR) is 45% and there is a gross margin of 24%. Thus, taking up affordable housing projects by the developers is a lucrative proposition for them. Needless to say, there are many private builder organizations that are entering this segment rapidly in the recent years.

Special initiatives for boosting the affordable housing in India

Some of the recently taken initiatives by the union government in India in regards to affordable housing during the Union Budget are discussed in the below pointers:

• Previously developers used to often complain about the high-interest rates which they were required to pay on their borrowings for developing the real estate projects. The infrastructure tag which has been introduced by the Indian government which facilitate the developers and builders to borrow at much lower and attractive rates for developing the affordable housing projects.

• Apart from the Union budget proposed 'infrastructure tag', there have been several allocations, and there are several housing schemes which have been introduced by the government in India. One of the major and most popular investment schemes which the increased budget for the affordable housings is the Pradhan Mantri Awaas Yojna. The budget of this government housing scheme has been increased from Rs.15,000 crore to Rs. 23,000 crore in the financial year 2017-2018. This is an increase which is as high as 50%.

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• In order to boost the housing investment even further, the tenure for the long-term capital gains has been considerably reduced from a three years term to a two years term. Hence, if you are willing to purchase a property in an affordable housing for investment purpose, you can sell the property just after two years and then still claim for some long-term capital gains which have got indexation benefits. This would also encourage several people who are looking at properties with low and medium-term investments.