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Affordable Housing, a New Dawn for Middle Income Group

Affordable Housing, a New Dawn for Middle Income Group

Real estate sector has seen lower than normal sales traffic in recent years. Undeniably, it has emerged as the safest destination for the aspiring homebuyers. After unlock, the demand for affordable flats in Gurgaon has witnessed improvement as people realised the significance of having their own home.

If you plan to settle down in Gurgaon, then there are best affordable projects Gurgaon. It is anticipated that the year 2021 is going to be a game changer for this segment. Home loan interest rates come have down to around 7 per cent. Seeing the response of top affordable projects in Gurgaon in post-pandemic months, many developers are getting over-subscription in their projects. Here are the views of Mr, Pradeep Aggarwal, Co-Founder & Chairman, Signature Global and Chairman, National Council on Affordable Housing, ASSOCHAM, “The affordable housing segment survived the onslaught merely because it caters to the price bracket that has maximum demand.

Several factors worked in favour of affordable housing, including Rs 3.74-lakh crore liquidity infusion announced by the RBI on March 27, 2020, the CLSS extension announced in May, relief under EPF, etc. The biggest takeaway for the buyers, however, was the unprecedented cut in the repo rates, which resulted in home loan interests coming down to sub-7%. The tragedy also came as a blessing in disguise for the sector, especially the affordable housing segment, as the middle class was facing challenges in staying at rented accommodations.

We have launched 19,200 units so far and intend launching 10,000 units by March 2021. As many as 5000 units are under the Haryana affordable housing policy, and another 5000 are under the Deen Dayal Jan Awas Yojana. We would be in a position to launch all 30,000 units by 2021.”

 Pradeep Aggarwal, again says, ” The turnaround after the COVID can be attributed to the fact that affordable housing is being promoted at war front with adequate support being extended to developers showing interest in this segment. To attract private participation, the government rolled out special incentives such as use permission, 50% additional FAR/FSI, concessional loans at priority sector lending rates and tax reliefs at par with affordable housing to develop ARHCs on their own available vacant land for 25 years.

Therefore, if you are searching affordable flats in Gurgaon, you must check from Signature Global Group, Mahira Homes63 A, OSB The Venetian, Mahira Homes 95, GLS South Avenue, Pyramid Midtown, ROF Alante sector 108 Gurgaon and more.


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