A Bumpy Road Ahead For Modi Government’s New Housing Policy: Moody’s
Advertisement
Advertisement
In June 2014, With the government vision to provide ‘housing for all,’ the funding needs of the domestic mortgage lenders grow in step, according to the Moody’s report. It also added that there is scope to develop RMBS market into a larger funding source, especially for those lenders who have focused on affordable housing.
The report added, “Prime Minister Narendra Modi’s ‘housing for all by 2022′ goal will boost the emerging RMBS market, though challenges remain for the development of the sector.”
The RMBS issuances, in 2014, rose 75% to Rs 5,300 crore. However, the Moody’s report asserted that this growth was from a low base and the sector remains relatively small, as per a PTI report.
In urban areas, the country faces a housing shortage of about 18.78 million units, the rating agency estimated.
Advertisement
By slashing minimum investment to $10 million, the
In 2015,
A PTI report suggested, Moody’s also warned that new tax rules have led to lower post-tax returns for bank investors in RMBS. On the other hand, a tax-related legal apprehension has prevented mutual fund investors from participating in the market.
(Image: Indiatimes)
Advertisement
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- One of the world's only 5-star airlines seems to be considering asking business-class passengers to bring their own cutlery
- From terrace to table: 8 Edible plants you can grow in your home
- India fourth largest military spender globally in 2023: SIPRI report
- New study forecasts high chance of record-breaking heat and humidity in India in the coming months
- Gold plunges ₹1,450 to ₹72,200, silver prices dive by ₹2,300
- Strong domestic demand supporting India's growth: Morgan Stanley