Affordable housing is helping buyers

Buying a house is becoming more expensive in Indian cities due to inflation in the Indian economy. Rising prices have made it so difficult for low-income groups and weaker sections of society to survive that owning a shelter is nearly impossible.

Keeping inflation in mind, the Indian housing department and real estate experts have embraced the concept of affordable housing in India. There are many residential projects in Indian cities. The National Capital Region which includes Noida, Ghaziabad, Gurgaon and Faridabad is coming up with many affordable projects after the global recession phase. There are many affordable housing options in Gurgaon.

A house in Gurgaon and Noida is usually very expensive, but affordable options would help the residents. The affordable housing concept is expected to be a profitable bargain for builders by attracting more buyers from low- and moderate-income groups. In affordable housing projects, the land area has the maximized use. For example, the area that was used to build one floor is dedicated to two floors. More buyers are entertained by a launched project and, therefore, more income. A buyer wins by getting a house at reasonable prices and the builder makes a profit by selling a greater number of flats on the same area of ‚Äč‚Äčland.

Although property prices are staggeringly high and have never been at such high values, buying property at today’s standards is historically the easiest time to buy property. This is due to the easy accessibility to money lending institutions, be it banks or other financial companies by the common man.

The viability of home loans for the common man has greatly contributed to the rise of buyers in the real estate market. The current interest rate is high but affordable for a large number of clients who buy properties on loan.

As the country is rapidly developing in all sectors, the high growth and appreciation of property has attracted a large number of investors in the Indian market. The relaxation of FDI regulations by the Indian government has greatly increased the buyers interested in Indian real estate. The launch of affordable projects and ease of access to loans, etc. investment in the real estate market has improved a lot.

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