Visakhapatnam: Andhra Pradesh Panchayat Raj Minister C Ayyanna Patrudu has asked real estate developers body CREDAI to take up housing projects considering needs of all sections of people, including the lower classes.
"Everyone aspires to have an own house and even village people also want to have their own houses. It is the responsibility of the builders to look into the aspirations of the middle and lower class people and take up affordable housing projects for them," Patrudu said while inaugurating a three-day CREDAI property expo here today.
Visakhaptnam is a fast growing city where there is lot of demand for the houses, he said.
The minister asked the banks to provide home loans at minimum interest, on par with the international banks, to the people.
He said that he will consult the Union and state finance ministers for reduction of interest rates on loans for housing projects.
On the occasion, Confederation of Real Estate Developers Association of India (CREDAI) Chairman B Raja Srinivas said CREDAI members will take up more housing projects with the help of banks which provide home loans at affordable interest rates.
Nearly 100 stalls of CREDAI's housing projects will be put up at the expo, where building materials, housing designs and other related logistics will be displayed.