India’s $ 1.3 trillion housing bonanza draws Piramal loan bet
DSIJ Intelligence / 23 May 2017
In order to ride an estimated $1.3 trillion housing-investment, Indian billionaire Ajay Piramal wants to sell mortgages and build affordable homes.
In order to ride an estimated $1.3 trillion housing-investment, Indian billionaire Ajay Piramal wants to sell mortgages and build affordable homes.
Piramal, chairman of Piramal Enterprises Ltd wants to create an affordable housing to urge job creation and also the economic growth as Prime Minister Narendra Modi also put a huge emphasis on that.
Piramal Enterprises is waiting for the license to offer loans to home buyers. Nation’s billion of people will require 60 million new homes as per the rising incomes and government force to the house by 2024 as per estimated by CLSA India Pvt.
The government is taking the steps in order to promote the goal of housing for all as the government is offering interest subsidies for home loans and making the developers of affordable housing eligible for state incentive, tax benefits and institutional funding.
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