Deepak Kapoor, Director, Gulshan Homz & President, CREDAI, Western-U.P.
This step towards the increase in size for MIG under CLSS to 200 sq meters will surely boost the affordable housing development schemes. The MIG category in the developing nation like India has a huge demand for housing units. The increase in carpet area will improve the construction activity and will assist in moving the housing sector forward.
Harvinder Sikka, MD Sikka Group
The CLSS for MIG scheme has gained momentum and it’s a good opportunity for the individuals with annual household Income from Rs 6 lakh to Rs 12 lakh. Also, the interest subsidy for both the MIG I & II will be 4% and 3%. The PMAY’s housing for all schemes will now witness a massive boost in the housing sector.
Gaurav Gupta, Director, SG Estates & General Secretary CREDAI – Ghaziabad & Director, SG Estates
The sector was witnessing fallout of incomplete projects and loss of buyer and investor confidence but that is a thing of the past now as the government has been proactively working out ways to develop on these fronts. The average middle class in smaller towns will be able to afford bigger and better quality homes than before and at the same time avail the benefits of CLSS under the PMAY.
Dhruv Agarwala, Group CEO, Proptiger.com, Housing.com, Makaan.com
This decision to increase carpet area of almost 33% for MIG flats is another big step to boost the construction and real estate sector. It will also mean developers witnessing higher demands for ready to move in affordable housing units falling under these brackets. Also, this will mean the facilitation of higher investments in affordable housing segment which has been accepted very well in the market, both by investors and end users.
Harshil Mehta, JMD & CEO, DHFL
The Government's announcement of increasing the sq-ft scale of residential units under the PMAY scheme, as well as the RBI’s recent decision to increase the housing loan limits, reflect the government’s strong intent to achieve its Housing for All mission by 2022 by enabling home ownership for every Indian. This definitely broadens the home ownership opportunity for eligible, first home buyers under the PMAY scheme while also providing the needed impetus to the supply dynamics. These initiatives have been announced at a very vital stage of DHFL’s journey, as we continue to actively lead industry efforts to accelerate home ownership in the affordable housing segment which has been core to our vision over the last 34 years.