New Delhi, Oct 13 (PTI) The government should provide incentives like interest subsidy on home loans, to customers looking to buy affordable homes up to Rs 45 lakh, realtors' body NAREDCO newly elected G Hari Babu said on Friday.
National Real Estate Development Council (NAREDCO) has elected G Hari Babu as its new President.
Niranjan Hiranandani has taken over as Chairman and Rajan Bandelkar as Vice Chairman of NAREDCO, which is under the aegis of Housing and Urban Affairs ministry.
Hari Babu previously served as President for four years at APREDA (Andhra Pradesh Real Estate Developers' Association). He was instrumental in the transformation of APREDA into NAREDCO-AP, where he continued to serve as President for an additional four years.
On his priorities, Hari Babu said he would focus on increasing interactions with the government for the growth of the real estate sector, especially the affordable housing segment.
He said the government should provide interest subsidy on home loans to promote affordable housing segment and achieve the mission of Housing For All.
Hari Babu said state governments should negotiate with steel and cement manufacturers to supply the two key raw materials at a concession for affordable housing projects. He said this has been done in Andhra Pradesh.
The new president said he would also focus on expanding the NAREDCO membership and also its presence across all major states.
"I am committed to ensuring that NAREDCO plays a central role in fostering this development. We will focus on sustainable and inclusive growth, while continuing to prioritise innovation, transparency, and excellence in all our endeavours," the new president said.
Hari Babu's journey in the business world commenced in the late 1970s, marked by his involvement in residential and industrial layout development, gated community construction, and entry into the manufacturing industry. In 1992, he ventured into the Telugu film industry. PTI MJH TRB TRB
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