Housing sector to get infrastructure status to make it affordable to own a home

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SummaryWith an aim to provide affordable homes for all including economically weaker section, the government is actively considering granting of infrastructure status to the housing sector in the near future.

buyers and to ensure that these funds are used for that real estate project only.

Our aim is to bring transparency and accountability in the real estate sector, Maken said.

Once the regulatory authority is established the registration of real estate developers will be mandatory.

Funds collected from buyers for a particular housing project cannot be diverted to other project and the developer will be restricted in announcing new project before getting all mandatory clearances like environment, fire and others.

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