Increase in priority housing loan limit a positive step: Jitendra Jain, MD & CEO, Neev Group Of Companies

The move to increase the priority housing loan limit to Rs 25 lakh was a positive one that will lead to increasing the base of home loan takers and thereby a boost for affordable housing. It is disappointing as the real estate sector was not given industry status. Had the government given it an industry status, bank financing would have been easier for Real estate companies. Affordable housing should have got some fiscal incentives as this would address affordability issues. The Proposal to increase rural housing fund to Rs 3,000 crore from 2,000 crore will lead to developments in the rural areas.