Examination of Sustainable Affordable Housing Policies and Perspectives in India after Reform

摘要

The Urban population of India registered a growth of 32 percent, rising from 285 million to 377 million from 2001 to 2011, and by 2050, 900 million people will be living in Indian cities. This will put a huge stress on urban planners to grow an infrastructure. In this paper, we examine the Government of India's programs for affordable housing in India and tenure form initiatives that have impacted the housing sector in India as there was a dramatic policy change in 2016. These policies have the potential to lead more transparency in the housing sector, which will affect the housing market in the short and long-term for home buyers. The policies that affect Indian real estate is Goods and Services Tax, Modification to the Benami Transactions Act, Real Estate (Regulation and Development) Act 2016, construction of affordable housing 100% deduction of profit, change in arbitration norms for construction companies, interest subsidy for first-time home buyers, exemption of service duty for affordable housing construction, DDT exemption for SPVs to REITs, and demonetization are discussed with the present situation due to a different change in taxation by government.