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100% FDI in affordable rental housing soon: MoHUA

2020-08-03

In a bid to resurrect from a continuous decline in the housing sales and revive the demand amid the worst hit COVID pandemic, the country?s real estate developers will soon offer over 2.70 lakh ready-to-move-in houses for online sales to the homebuyers in a first and biggest ever housing festival, which will begin soon.

Initiated by National Real Estate Development Council (NAREDCO), in this festival, the developers from all over India will list their housing properties for sale on an exclusively created e-commerce marketplace ?NAREDCO Housing For All? developed in guidance with the Ministry of Housing and Urban Affairs. This festival is expected to unlock the affordable housing properties worth over Rs 1.21 lakh crore and offer a great opportunity to the national and international homebuyers to buy RERA registered properties at the right prices anywhere in India.

Hardeep Singh Puri, Minister, Housing and Urban Affairs, Government of India announced the launch of the e-commerce portal and also unveiled the recently approved ?Affordable Rental Housing Policy? knowledge pack to support a huge influx of people in urban India find affordable rental housing. Niranjan Hiranandani, National President, NAREDCO and President, ASSOCHAM; Rajan Bandelkar, Convenor, NAREDCO Housing For All Portal and President- West; Rajeev Talwar, Chairman, NAREDCO; Praveen Jain, Vice Chairman, NAREDCO; and other industry delegates were present at the web-based event.

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