NITI Aayog calls for fiscal incentives to push development of affordable houses in India

In its report on ‘A Comprehensive Framework to Promote Affordable Housing’, developed jointly with the ministry of housing and urban affairs, the Aayog has proposed a slew of incentives for developers and buyers of affordable houses, including reintroduction of the provision of 100% tax exemption to developers involved in approved affordable housing projects and doubling of loan limit to Rs 40 lakh under the Credit Risk Guarantee Fund Scheme for Low Income Housing.