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loper can be allowed to sell MIG flats at market rates

Redevelopment / Rehabilitation

Increasing availability of prime land by redevelopment / rehabilitation

Construction & Other Costs

Single window approval for projects

Delays incurred in project approvals result in substantial cost overruns.

A single window will help reduce delays and contain costs

Reduction in approval related costs

Subsidizing construction costs

Reduction / exemption / deferment of taxes and duties on construction materials

Subsidy to developers for R&D in new low cost materials and technologies

Subsidy to developer in view of employment generated

Lower cost of borrowing for development of affordable housing projects - can be achieved if government agencies have a participatory interest in the project and guarantee the loans

Sales Tax and Stamp Duty

Exemption from sales tax and reduction in stamp duty

Credit Delivery/ Risk

Relaxation of ECB norms for housing companies

Increase in income tax ceiling on housing loans will reduce post tax cost of capital for borrowed

Adequate incentives and transaction structuring require to promote mortgage finance and enable unit acquisition by target beneficiaries

Analysis of Government Policies with Focus on PPP Model:-

Table 10: Policies focus on PPP Model

Sr.No

Government Policy

Focus on PPP

Incentives

1

NUHHP

Yes

Land

2

JNNURM

Yes

Land, Equity

3

TMHP

No

-

4

AHP

Yes

Land, Equity

5

RAY

Yes

Land, Equity

6

INTEREST SUBSIDY SCHEME

No

-

Potential Structure for Implementation of PPP Projects for Affordable Housing:-

Fig. 6: Potential Structure

Source: International Finance Corporation Apr, 2012

The structure-A describes the formation of a Special Purpose Vehicle (SPV) so that the developers, lenders, Construction Company and public authority can invest in it. The government gives the land on a concession basis to the SPV and keeping the ownership with themselves or as an equity which will entitle the public authority to share the revenues by the sale of units.

The developers will invest equity in SPV and subcontract the work to a private party for construction and maintenance. Financial institutions will provide debt financing to the SPV. The beneficiaries will acquire the units under lease and in case of lack of funds the financial institutions will provide mortgage debt financing to the beneficiaries.

In structure-B the public authority offers the land on a concession basis by keeping the ownership with itself.

PPP PROJECTS IN INDIA

Some of the PPP Projects in India are as under:

EWS rental project at Virar, Mumbai by MMRDA (Mumbai Metropolitan Regional Development Authority) and HDIL(Ho本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。