Real Estate Developers Welcome Extension Of Credit Linked Subsidy Scheme

Finance Minister on Thursday announced the extension of the deadline for the affordable housing Credit Linked Subsidy Scheme (CLSS) till March 2021. The deadline for CLSS had expired on March 31, 2020. According to the government, this move will benefit 2.5 lakh middle income families during 2020-21.

The announcement has been welcomed by real estate developers, who see the move as beneficial.

"The recent announcement pertaining to extension of CLSS up to another year, has benefitted the MIG, and affordable housing sector. The extension welcomes investors and end-users with their share of investments. Affordable housing being a major job provider, will also be able to create more jobs with the government's proposal related to the change in outlook of the government housing complexes in cities to affordable rental housing complexes," Harvinder Sikka, MD, Sikka Group said.

According to Vikas Garg, Deputy Managing Director, MRG World, the focus of the government is on providing housing to everyone in the country.

"It has been communicated over the years through various steps that this government has taken including giving industry status to affordable housing. The latest announcement by the FM in the wake of the pandemic also shows that government want people to buy houses and this can be achieved by this announcement as fence sitters too will come and buy," he stated.