by Anushree Ghosh
A sneak peek into the concept of affordable Housing Projects in India, the flourishing market of affordable projects, followed by a few developers’ project to check out.
The fluctuating real estate market of India has been quite unpredictable in the recent times. The developers are now keen to target the upper middle income group families. Unlike, a few years ago, when developers were focusing on premium properties with luxurious facilities like gym, shopping mall and pool within the complex. In an effort to formalise the real estate sector, many new reforms were introduced by the government, which in turn, further interrupted the speed of growth.
In such a dreary scenario, the Government came out with its plan of providing affordable housing for all by 2022. The mission was to build around 2 crore houses for the economically weaker sections of the society. Later, lower middle class families were also added to this group. Another scheme related to affordable housing which instigated the developer’s interest towards affordable housing was credit-linked subsidy scheme (CLSS); wherein the subsidised interest rates was the point of attraction for them. Also, the much awaited infrastructure status given to the affordable housing segment has made it easier for the developers to arrange funds for the same.
In case, you are looking for a house in the affordable segment, here are a few developers you can check out-
Arihant Superstructures: It is one of the well known real estate developer in Mumbai. They are working on 15 projects in Jodhpur in Mumbai. They have under construction projects and already constructed flats in the affordable segment. Arihant Anchal, Arihant Ashray, Arihant Angan and Arihant Akanksha are some of them.
Raheja Krishna Housing: It is the first affordable housing project by the Raheja developers. It provides airy and spacious 1bhks and 2bhks. The project is in one of the prime locations in Gurgaon and is well connected to the other important locations. Apart from the basic facilities, it also takes care of the recreational facilities of the residents like club and gymnasium. Investing would cost you something between 16 – 25 Lacs.
Bengal Peerless Housing Project: The Kolkata based developer has been providing spacious and affordable apartments. To combat the problem of affordable housing, it was formed as a joint venture between the Government of West Bengal and Bengal Peerless Development Company. Most of the apartments have 24X 7 Security System, and play area for children.
SRC Hightech Affordable Homes: It is owned by SRS Group. The flats are available from @Rs 3, 293 per sqft. The developers have taken care of the extra amenities as well, like Vaastu, security and landscape.
Prime Infradevelopers Private Limited: Their project, Conscient Affordable Housing is located at sector-99A, Gurgaon. They have all the recreational facilities like shopping area, community hall and kid’s play area. A 2bhk would cost you around 18 Lacs.