How Affordable Housing Finance Has Become The Home For Million Of Homebuyers
The instance of affordable housing for middle and lower-income groups in urban families has been done extensively by the central government. Affordable housing scheme allows homebuyers to own a house at an affordable price. However, affordable housing has proved to be a boon for millions of homebuyers who want to buy a house but need more material resources to invest in projects.
Rajesh K Saraf, MD, Axiom Landbase commented that the economic headwinds like unemployment and recessionary fear are getting high. So homebuyers only prolonged their residential purchases for a short period of time. It is where Affordable Housing Finance plays a vital role in Housing Finance in incentivizing homebuyers with monetary help to finalize the home-buying process.
He further added that the affordable housing demand has witnessed a tamped-down demand in supply as well as launches. However, the demand has witnessed a nosedive due to the growing home price listings.
As per Ashwani Kumar, Pyramid Infratech, affordable housing is going to help low-income sections and economically disadvantaged groups with financial resources to buy and build homes. It will also help them to afford a roof over their heads.
Affordable housing is also contributing to the revival of affordable housing markets by bringing its traditional buyers to the investment zone. It will lead to a perception shift in favor of affordable and mid-housing, said Kumar
Siddharth Maurya, Resource Specialist, Expertise Real Estate and Fund Management where large banks like HFCs can get benefits from a significant spread on their loans without having to deal with the unique challenges of handling this specialized customer segment across several locations.