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Introduction

Nilaya Infra Pvt. Ltd. is engaged in to development and management of real estate properties in residential and commercial sectors. The company was incorporated with a vision of quality construction and on-time delivery. The company was founded by Amit Tyagi, a doctor by qualification and a visionary & futuristic by traits. His goal was to transform the way people perceived Affordable Housing in India. Today, NILAYA is a trusted brand in Affordable Housing in NCR. The goodwill and customer loyalty that we command is a testament to our incessant focus on quality, customer centricity and business ethics.
Indian real estate sector is undergoing a massive transformation due to several landmark institutional reforms. Reforms like Real Estate (Regulation and Development) Act 2016 and GST (Goods and Services tax) will enhance sector’s credibility and bring increased focus on transparency and accountability.

These initiatives have helped in protecting homebuyer’s interest and in accelerated sector organization. The consumer demand has also been boosted with initiatives like the Credit Linked Subsidy Scheme (CLSS) for Middle and Lower Income Groups (MIG and LIG) under Pradhan Mantri Awas Yojana (PMAY). We are confident that we will be able to capitalize on these changes and embark on a path of accelerated growth in coming years. 

 

Nilaya Group

Affordable Housing

The real estate sector is very well versed with the terminology budget and affordable homes. These words are used in positioning the units and creating a distinct identity for the project in the minds of customers.
With the launch of government’s Housing for all scheme-2022, the focus is on providing homes to all, budget and affordable homes being of prime importance. According to data of the last 5 years, the affordable housing sector has contributed the most in home sales.
According to a universally accepted definition, affordable units are those which could be afforded by a country’s population that earns less than that country’s average household income. In other words, houses that the low-income households and economically weaker sections (EWS) can afford are termed affordable housing. However, this definition changes according to the context.

Affordable houses in terms of carpet area is defined as 90 sq m in non-metropolitan cities and 60 sq m in metropolitan cities with a ceiling value of Rs 45 lakh in both cases. As per the GST Council, the ceiling value of affordable housing is Rs 45 lakh.
As per the RBI incentive measures, the cost of affordable residential property should be less than Rs 65 lakh in metro cities and Rs 50 lakh in non-metros.

 

Benefits and savings:

Rebate on Home Loan interest - PMAY CLSS (Credit Linked Subsidy) - subject to eligibility and norms of the lender (fulfilling PMAY terms & conditions) - upto a maximum of Rs. 2.67 Lacs.

Finance Mnister has announced an additional Income Tax deduction of Rs 1.5 lakh on affordable home loans. As per the proposal, income tax payers will get tax rebates of around Rs 3.5 lacs on loans of up to Rs 45 lakh borrowed upto March 31, 2020.

 

The key regulatory reforms to bring in the next wave of transformation in the Affordable sector:

RERA: Aims at increasing transparency and accountability.

GST: Replaced the multilayered taxation system with a unified tax economy.

 

This project is open for general public, applications need to be submitted along with the registration fee (refer to the scheme prospectus).