Empowering Homeownership: India's Commitment to 'Housing for All'

The Indian government, under President Droupadi Murmu, is dedicated to helping the middle class achieve their homeownership dreams by offering interest subsidies on home loans and implementing the Real Estate (Regulation and Development) Act. The Pradhan Mantri Awas Yojana aims to provide housing for 3 crore families with a substantial budget allocation.

President Droupadi Murmu has reaffirmed the government's dedication to helping the middle class own homes, emphasizing the role of interest subsidies on home loans. She highlighted the importance of the Real Estate (Regulation and Development) Act, commonly known as RERA, in safeguarding these dreams.

As part of its commitment, the government has taken significant steps towards achieving 'Housing for All.' This includes extending the Pradhan Mantri Awas Yojana to provide new homes to an additional 3 crore families, supported by a budget allocation of Rs 5,36,000 crore.

RERA, enacted in 2016, is pivotal in regulating and promoting the real estate sector. It ensures efficient and transparent operations, protecting homebuyers' interests. By addressing issues like fair transactions and timely delivery, it empowers homebuyers through rapid dispute resolution. The act has seen extensive registration and complaint disposals, cementing its role in the sector.

(With inputs from agencies.)