Chairman’s Message

January 9, 2010

Chairman’s Message

Dear Friends,Warm Greetings to all of you ! The first three months of the New Year have gone by so fast within no time but with some good news for the Affordable Housing sector which is that Infrastructure status has been bestowed upon the same. This is great news because currently Tulip is also majorly into Affordable housing with Tulip Lemon in the forefront and two more Tulip’s affordable housing projects in the reckoning. In the past three months, winters have lingered on till late even after the colourful festival of Holi and it seems to be a marked natural seasonal change in comparison to the last few years. Similarly with the announcement of some new policies and decisions, the Real estate sector seems to be changing forward for a better future. A very major recent step has been taken in PMAS ( Pradhan Mantri Avas Yojna) which is the government’s announcement in bringing operational guidelines for Credit linked Subsidy scheme (MIG). According to these guidelines, MIG groups with annual income of above 6 lacs and upto 18 lacs are eligible for interest subsidy on housing loans. For MIG groups 6 to12 lacs the interest subsidy shall be around 4% and for MIG group 12 to 18 lacs, the interest subsidy shall be around 3%. This shall be applicable since January this year. This move is in continuation for the interest subsidy of 6.5% for annual income category of upto 6 lacs. This is a great welcome move for the home buyers which shall enable more and more people to buy homes.

With Best regards,

Parveen Jain, CMD


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