Budget 2026: Real estate body seeks relief for affordable housing, faster PMAY 2.0 rollout

Описание: Ahead of Union Budget 2026, Maharashtra NAREDCO NextGen President Vikas Jain has sought targeted relief for affordable housing, citing sharp rise in construction costs, elevated interest rates and delayed rollout of PMAY 2.0 as key headwinds impacting demand.

In an interaction with PTI, Jain said affordable housing operates on low margins and high volumes, leaving developers with limited ability to pass on higher costs to buyers. He also flagged slow implementation of PMAY 2.0, especially the Credit Linked Subsidy Scheme (CLSS), which earlier played a key role in boosting affordability and housing demand.

Jain said high interest rates have increased EMIs and reduced loan eligibility, hurting the segment the most. He urged the government to revisit the definition of affordable housing, arguing that a uniform price cap does not reflect metro realities where even a 1BHK can cost around ₹1 crore. He also called for clarity on rental housing and rationalisation of GST-related parameters.

PMAY-U 2.0 (2024–2029) aims to provide financial assistance to 1 crore urban poor and middle-class families for construction, purchase or rental of homes.

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