The Confederation of Real Estate Developers' Associations of India (CREDAI) Bengal today lauded the Union Cabinet's decision of increasing the unit sizes of Middle-income Group (MIG) houses under Credit Linked Subsidy Scheme.
The move would broaden the buying scope of the middle class and help in selling bigger sized apartments at affordable rates, Nandu Belani, President, CREDAI Bengal said.
The Cabinet on Thursday cleared a proposal to increase the carpet area of an MIG-I from 90 square metres to up to 120 square metres and in MIG-II category, from 110 square metre to up to 150 square metres.
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Speaking at the inauguration of CREDAI Bengal's 10th edition of Realty Expo, Belani said, "This is also going to aid the middle classes in Tier II, III and IV towns and cities, besides helping realization of the central government's commitment to "Housing for All by 2022."
Welcoming the visitors to CREDAI Bengal Realty Expo 2017, eastern India's largest real estate exhibition, he expresed hope that they would have a rewarding experience at the Expo in which most of Kolkatas realty players are a part.
The fair was inaugurated by Debashis Sen, West Bengal IT Secretary and CMD West Bengal Housing Infrastructure Development Corporation (WBHIDCO) Limited.
The three-day property fair is also the first one after the implementation of the Goods and Services Tax (GST) regime.
Sanjay Jain, Convener, Exhibition Committee and Vice President, CREDAI Bengal said The 'Real Estate Digest', which is CREDAI Bengals comprehensive guide to properties in Bengal, will give readers a larger picture of the real estate market, current trends, developments and the properties on offer by various developers in the state.
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