Coal and Mines Minister G. Kishan Reddy stated Sunday that fewer GST rates will increase public income. This boost should aid home buying, a common desire. The Modi government’s policies over 11 years helped middle-class families buy homes. These policies also grew the property market. Reddy addressed the Confederation of Real Estate Developers Association of India in Hyderabad.
Low interest rates from the RBI make housing loans cheaper. Monthly payments are now more manageable for many. This affordability means more people will likely buy homes. This trend will expand the real estate sector.
The government’s “Ease of Living” policy also supports the industry. It improves city services for residents. Reddy noted that 20% of the population is now out of poverty. He believes rising incomes will increase housing demand.
The government balances industry needs with home buyer protections. The Real Estate Regulation Act (RERA) promotes transparency. It also ensures accountability in property dealings.
Reddy was pleased Telangana formed its Real Estate Appellate Tribunal last year. RERA-TG has registered 10,000 projects. It also registered 4,000 agents. CREDAI-Hyderabad president N. Jaideep Reddy attended. President-elect B. Jagannath Rao and general secretary K. Kranti Kiran Reddy were also present.