New housing drive to boost Indian RMBS

By Tom Porter
22 Jan 2015

An ambitious programme to provide all Indian citizens with housing by 2022 should help bolster India’s fledgling residential mortgage-backed securities (RMBS) market, which recorded issuance of just Rph53bn (€743m) in 2014. But Moody’s has warned there are tax obstacles for investors looking to participate.

Narendra Modi, who won India’s prime ministerial election for the Bharatiya Janata party in May last year, used a vision of “housing for all” by 2022 as part of his campaign.

Measures are focused around removing red tape in the process of housing development, such as broadening the ...

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