After Budget incentives, Oberoi Realty & Lodha to enter affordable housing

After Budget incentives, realty majors plan new avenues

Some of the biggest names in real estate such as Oberoi Realty, Lodha and the Prestige group are looking at entering the affordable housing segment, after the incentives announced in the Union Budget.

Beside infrastructure status to the segment, which enables access to cheaper funds and other concessions, the finance minister said under the profit-linked income tax deduction for promotion of affordable housing, the carpet area would be counted (up to a limit), instead of built-up area.

The minister made a compelling case for affordable housing, says Vikas Oberoi, promoter of Oberoi Realty. Known for its premium-priced projects, it will now look