{"id":11620,"date":"2019-07-12T14:54:14","date_gmt":"2019-07-12T09:24:14","guid":{"rendered":"https:\/\/www.antworksmoney.com\/blog\/?p=11620"},"modified":"2021-08-24T16:15:48","modified_gmt":"2021-08-24T10:45:48","slug":"budget-2019-modi-government-to-continue-with-its-drive-for-affordable-housing","status":"publish","type":"post","link":"https:\/\/www.antworksmoney.com\/blog\/budget-2019-modi-government-to-continue-with-its-drive-for-affordable-housing\/","title":{"rendered":"Budget 2019 &#8211; Modi Government to Continue with its Drive for Affordable Housing"},"content":{"rendered":"\n<p>The first ever female finance minister Nirmala Sitharaman in the recent Budget 2019 announced that various reforms will be certainly undertaken for the promotion of rental housing. The continued thrust for <strong><a href=\"https:\/\/www.antworksmoney.com\/compare\/housing-loan-offers\">affordable housing<\/a><\/strong> will benefit millions of the people staying in the different corners of the nation in rented homes.<\/p>\n\n\n\n<p>She further added that the time limit for the completion\nof the housing project has been reduced from 314 days in the year 2015-16 to\n114 days in 2017-18 assuming it as an achievement of her government. These\nhouses will have the essential amenities like electricity, toilets, LPG, and\nmore.<\/p>\n\n\n\n<p>The finance minister Nirmala Sitharaman also said that the prevailing rental laws are antiquated and so several productive improvements will be implemented with the aim of promoting rental housing.<\/p>\n\n\n\n<div class=\"wpcf7 no-js\" id=\"wpcf7-f11639-o1\" lang=\"en-US\" dir=\"ltr\">\n<div class=\"screen-reader-response\"><p role=\"status\" aria-live=\"polite\" aria-atomic=\"true\"><\/p> <ul><\/ul><\/div>\n<form action=\"\/blog\/wp-json\/wp\/v2\/posts\/11620#wpcf7-f11639-o1\" method=\"post\" class=\"wpcf7-form init\" aria-label=\"Contact form\" novalidate=\"novalidate\" data-status=\"init\">\n<div style=\"display: none;\">\n<input type=\"hidden\" name=\"_wpcf7\" value=\"11639\" \/>\n<input type=\"hidden\" name=\"_wpcf7_version\" value=\"5.7.4\" \/>\n<input type=\"hidden\" name=\"_wpcf7_locale\" value=\"en_US\" \/>\n<input type=\"hidden\" name=\"_wpcf7_unit_tag\" value=\"wpcf7-f11639-o1\" \/>\n<input type=\"hidden\" name=\"_wpcf7_container_post\" value=\"0\" \/>\n<input type=\"hidden\" name=\"_wpcf7_posted_data_hash\" value=\"\" \/>\n<input type=\"hidden\" name=\"_wpcf7_recaptcha_response\" value=\"\" \/>\n<\/div>\n<style>\n.g-recaptcha {transform:scale(0.77);-webkit-transform:scale(0.77);transform-origin:0 0;-webkit-transform-origin:0 0; margin-top: 20px;}\n.lead-form {border:1px solid #ccc; padding-top: 20px; margin: 10px 0;}\n<\/style>\n<div class=\"lead-form\">\n\t<div class=\"row\">\n\t\t<div class=\"col-md-12\">\n\t\t\t<div class=\"col-md-3\">\n\t\t\t\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"your-name\"><input size=\"40\" class=\"wpcf7-form-control wpcf7-text wpcf7-validates-as-required form-control\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"Name*\" value=\"\" type=\"text\" name=\"your-name\" \/><\/span>\n\t\t\t\t<\/p>\n\t\t\t<\/div>\n\t\t\t<div class=\"col-md-3\">\n\t\t\t\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"your-email\"><input size=\"40\" class=\"wpcf7-form-control wpcf7-text wpcf7-email wpcf7-validates-as-required wpcf7-validates-as-email form-control\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"Email*\" value=\"\" type=\"email\" name=\"your-email\" \/><\/span>\n\t\t\t\t<\/p>\n\t\t\t<\/div>\n\t\t\t<div class=\"col-md-3\">\n\t\t\t\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"your-number\"><input size=\"40\" class=\"wpcf7-form-control wpcf7-text wpcf7-tel wpcf7-validates-as-tel form-control\" aria-invalid=\"false\" placeholder=\"Mobile Number\" value=\"\" type=\"tel\" name=\"your-number\" \/><\/span>\n\t\t\t\t<\/p>\n\t\t\t<\/div>\n\t\t\t<div class=\"col-md-3\">\n\t\t\t\t<p><input class=\"wpcf7-form-control has-spinner wpcf7-submit btn btn-primary\" type=\"submit\" value=\"Send\" \/>\n\t\t\t\t<\/p>\n\t\t\t<\/div>\n\t\t<\/div>\n\t<\/div>\n<\/div><div class=\"wpcf7-response-output\" aria-hidden=\"true\"><\/div>\n<\/form>\n<\/div>\n\n\n\n\n<p><strong>The Budget 2019 will Boost Affordable Housing<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>According to IMF, the Indian rental market which is highly unorganized is estimated to be $ 20 billion approximately. The recent budget will help to streamline it.&nbsp; <\/li><li>PSUs to be used to construct public infrastructure on large basis to facilitate affordable housing.<\/li><li>In order to achieve the set goal of \u2018Housing for All\u2019 by 2022, the FM Nirmala Sitharaman said that the govt. is in the process of introducing a new and successful tenancy law which will boost the unorganized rental housing market in the country. <\/li><\/ul>\n\n\n\n<p>Sitharaman said, \u201cCurrent rental laws are archaic\nand do not address the relationship between the lessor and the lessee realistically\nand fairly.\u201d<\/p>\n\n\n\n<p>The Modi govt is constantly making efforts to\nincrease the carpet area and encourage more people to take the advantage of\naffordable housing under the Pradhan Mantri Awas Yojana (PMAY) run countrywide.<\/p>\n\n\n\n<p>Under the PMAY, Credit Linked Subsidy Scheme\n(CLSS) has helped in increasing the percentage of the beneficiaries by\nredefining the income definitions and expanding the carpet area for the\nconstructed affordable housing. &nbsp;&nbsp;<\/p>\n\n\n\n<p>Megha\nMaan, Senior Associate Director at Colliers International India said, \u201cThe new\nmodel tenancy, which is likely to be re-introduced, is expected to balance the\nrights and responsibilities of both landlords and tenants that will make the\nrental market more efficient and streamlined across the country.&#8221;&nbsp;<\/p>\n\n\n\n<p>The government in the Budget 2019 has also facilitated\nadditional incentives to boost affordable housing. <\/p>\n\n\n\n<p>An interest deduction up to \u20b93.5 lakh for affordable housing priced below \u20b945 lakh as against \u20b92 lakh earlier for\nloans availed until March 31, 2020 has been proposed. &nbsp;It can encourage more first-time homebuyers and\nincrease the demand of affordable housing. <\/p>\n\n\n\n<p>Sitharaman\nalso said, \u201cUnder the \u2018House for All by 2022\u2019 mission, the government aims to\nbuild 1.95 crore houses under the Pradhan Mantri Awaas Yojana (Gramin) scheme.\n\u201cA total of 1.54 crore rural homes have been completed in the last five years.\u201d\n<\/p>\n\n\n\n<p>Thus, even the common people will be able to buy his\/her <strong><a href=\"https:\/\/www.antworksmoney.com\/pradhan-mantri-awas-yojna\">dream home under the affordable housing scheme<\/a><\/strong> well-known as Pradhan Mantri Awaas Yojana (PMAY).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The first ever female finance minister Nirmala Sitharaman in the recent Budget 2019 announced that various reforms will be certainly undertaken for the promotion of rental housing. The continued thrust for affordable housing will benefit millions of the people staying in the different corners of the nation in rented homes. She further added that the &hellip; <a href=\"https:\/\/www.antworksmoney.com\/blog\/budget-2019-modi-government-to-continue-with-its-drive-for-affordable-housing\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Budget 2019 &#8211; Modi Government to Continue with its Drive for Affordable Housing&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":11624,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":["post-11620","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-home-loan"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Budget 2019 - Modi Government to Continue with its Drive for Affordable Housing<\/title>\r\n<meta name=\"description\" content=\"In the budget 2019 also the government plans to continue its drive of providing affordable housing under the Pradhan Mantri Awas Yojana (PMAY) to the citizens in the country interested in owning a house.\" \/>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.antworksmoney.com\/blog\/budget-2019-modi-government-to-continue-with-its-drive-for-affordable-housing\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Budget 2019 - Modi Government to Continue with its Drive for Affordable Housing\" \/>\r\n<meta property=\"og:description\" content=\"In the budget 2019 also the government plans to continue its drive of providing affordable housing under the Pradhan Mantri Awas Yojana (PMAY) to the citizens in the country interested in owning a house.\" \/>\r\n<meta property=\"og:url\" content=\"https:\/\/www.antworksmoney.com\/blog\/budget-2019-modi-government-to-continue-with-its-drive-for-affordable-housing\/\" \/>\r\n<meta property=\"og:site_name\" content=\"Antworks Money - The Blog on Personal Finance | Guide to Loans, Credit Cards, Insurance and Investments\" \/>\r\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/antworksmoney\/\" \/>\r\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/antworksmoney\" \/>\r\n<meta property=\"article:published_time\" content=\"2019-07-12T09:24:14+00:00\" \/>\r\n<meta property=\"article:modified_time\" content=\"2021-08-24T10:45:48+00:00\" \/>\r\n<meta property=\"og:image\" content=\"https:\/\/www.antworksmoney.com\/blog\/wp-content\/uploads\/2019\/07\/budget-2019-modi-government-to-continue-with-its-drive-for-affordable-housing.png\" \/>\r\n\t<meta property=\"og:image:width\" content=\"900\" \/>\r\n\t<meta property=\"og:image:height\" content=\"449\" \/>\r\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\r\n<meta name=\"author\" content=\"Team Antworks\" \/>\r\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\r\n<meta name=\"twitter:creator\" content=\"@AntworksMoney\" \/>\r\n<meta name=\"twitter:site\" content=\"@AntworksMoney\" \/>\r\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Team Antworks\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\r\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/budget-2019-modi-government-to-continue-with-its-drive-for-affordable-housing\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/budget-2019-modi-government-to-continue-with-its-drive-for-affordable-housing\/\"},\"author\":{\"name\":\"Team Antworks\",\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#\/schema\/person\/99145cefcc01e42af38c385eeecef0b7\"},\"headline\":\"Budget 2019 &#8211; 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