Realty sector hails Maken's views on mass housing

Mumbai, Feb 5 (IANS) The realty sector Tuesday hailed the move to grant 'infrastructure status' to affordable housing by union Housing Minister Ajay Maken and urged for extending similar treatment to the entire sector here.

"We thank the minister for coming half-way through on the developers' and customers' demands on this issue which can facilitate easy financing and other benefits to boost the most important need of people after food and water," said Lalit Kumar Jain, president, Confederation of Real Estate Developers' Association of India (CREDAI).

Maken's observations came Monday at an international conference here which Jain described as "a good beginning, and hoping that he will move further in a positive direction".

Jain also expressed hope that the Maharashtra government would take note of the minister's suggestion to hike Floor Space Index (FSI) to encourage affordable, mass housing for slum dwellers.

"We have been stressing that people should not be displaced from places where they have grown up or are working as this would add pressures on the travel infrastructure," Jain said.

CREDIA has endorsed the minister's views on providing affordable housing even in the most premium locations to bring the service providers and consumers closer.

He pointed out that CREDIA has been fighting for long for getting 'infrastructure status' for the housing realty sector, declaring it as an industry and providing tax benefits on the lines of Special Economic Zones.

Half of Mubmai lives in slums and there is a severe shortage of affordable housing.

CREDIA has suggested mass rental housing, cheap housing for the economically weaker sections with enhanced FSI limits and creating special housing zones on the outskirts of Mumbai in adjoining Thane and Raigad districts.

According to Jain, the housing and construction industry contributes around 11 percent to the GDP and supports some 400 industries which could substantially multiply with pro-active policies.

Matches

MORE TOP STORIES TODAY

Delhi Daredevils vs Royal Challengers Bangalore

Delhi Daredevils vs Royal Challengers Bangalore

Kohli wins the toss and puts Delhi into bat. Chris Gayle MISSES OUT!!! More »

Kallis, Narine star in Knight Riders’ crushing win

Kallis, Narine star in Knight Riders’ crushing win

An all-round display saw Knight Riders thump Mumbai Indians by 41 runs in the IPL-7 opener. More »

Gavaskar wants a clean IPL

Gavaskar wants a clean IPL

"Integrity is non-negotiable..." says the BCCI's interim chief ahead of Season 7 of the tainted league. More »

'Yak' Kallis still on top of his game

'Yak' Kallis still on top of his game

The 38-year-old South African veteran turned it on for Kolkata Knight RIders in the opening match of IPL-7. More »

Srinivasan named in fixing report: SC

Srinivasan named in fixing report: SC

The court emphasised that the tainted administrator can no longer work for the BCCI. More »

Yuvraj happy to play for RCB: Kohli

Yuvraj happy to play for RCB: Kohli

New-look RCB will play their first game of IPL-7 on Thursday. More »

IPL: News Line

IPL: News Line

A round-up of all the news from this season of the IPL. More »

Shane Watson issues moral warning

Shane Watson issues moral warning

'Everyone knows what is right and what is wrong and if you do the wrong thing it will be found out' More »

Why I'm not looking forward to the IPL

Why I'm not looking forward to the IPL

Welcome to another season of a league that many watch but few trust. More »

Nepal players call off boycott

Nepal players call off boycott

Thaw in relations after formation of an advisory committee that would work in tandem with the Cricket Association of Nepal. More »

Johnson may quit T20s for Tests

Johnson may quit T20s for Tests

Australia's Mitchell Johnson may quit limited-overs cricket to prolong his test career with an eye on the 2015 Ashes series in England, the fast bowler… More »

There's a lot going on: Fleming

There's a lot going on: Fleming

He experienced anxious moments in the lead-up to the tournament as the courts decided on whether to suspend the franchise, he said, but stressed that the… More »

Latif couldn’t work with tainted players

Latif couldn’t work with tainted players

Former Pakistan cricket captain Rashid Latif said Tuesday he turned down the job of national chief selector because he could not work with ex-players tainted… More »

We are not over-confident: Bailey

We are not over-confident: Bailey

Indian Premier League — George Bailey-led Kings XI Punjab will face Chennai Super Kings on Friday. More »

Big runs expected, with bat and ball

Big runs expected, with bat and ball

Royal Challengers Bangalore: Their main concern, once again, is the fast bowling More »

Taxing issue — BCCI hits roadblock

Taxing issue — BCCI hits roadblock

MoU between BCCI & its units to avoid double taxation delayed after a few decline to share details. More »

Black Caps pick rookie duo for West Indies

Black Caps pick rookie duo for West Indies

New Zealand selectors included two new caps in a 15-man Test squad named Tuesday to tour the West Indies, with injury-hit spinner Dan Vettori's future… More »

The stage is set for IPL-7 to start

The stage is set for IPL-7 to start

The Preview — Defending champions Mumbai Indians take on Kolkata Knight Riders More »

Srinivasan appeals to court to allow BCCI comeback

Srinivasan appeals to court to allow BCCI comeback

He was aggrieved by the allegations against him during the hearing. More »

Klinger on his exit from South Australia

Klinger on his exit from South Australia

Michael Klinger has revealed he felt compelled to leave South Australia after being told he would be only a fringe part of the Redbacks' plans for next season, and disputed the suggestion that he left… More »

India: cricket's Brazil

India: cricket's Brazil

They are tough to beat with a big talent base exposed to good facilities. (CYCSPL) More »

Delhi Daredevils say no to gifts

Delhi Daredevils say no to gifts

Franchises are doing their bit to refurbish the image of the tainted league. More »

India-Pakistan Test series likely in 2015

India-Pakistan Test series likely in 2015

The revival of Indo-Pak Test ties could take place in UAE. More »

Kohli hopes to end RCB trophy drought

Kohli hopes to end RCB trophy drought

'This time around we will hope to go few more steps ahead and actually get that trophy' More »