Under Affordable Housing Projects, private developers are offering flats priced as low as around Rs 13 lakh for 1BHK and Rs 18 lakh for 2BHK.
After witnessing a dip for certain period, Gurgaon’s real estate sector is back on track after the state government introduced Affordable Housing Projects 2013 keeping in mind the lower-middle and middle segments of the society.
Priced as low as around Rs 13 lakh for 1BHK and Rs 18 lakh for 2BHK, it is launched by the government last year under which 23 licences were awarded to the private developers for construction and selling of affordable housing units at the fixed rate of Rs 4,000 per square feet in Gurgaon and Rs 3,600 in Sohna region. The affordable housing projects are proposed in the newly carved sectors of Gurgaon and Sohna region.
In a city where an average cost of a 1,000 square feet two-bedroom apartment at a decent condominium is at least $1.6 million (Rs10,000,000), the developers invited application from people especially middle class who aspire to have their own dream house in millennium city. However, the applicants would be allotted units within 90 days from the proposed deadline of filing application, which is through a lottery system. The application forms are available at Rs1000 for all the affordable housing projects.
In order to lure the potential buyers, full page advertisements are being published in newspapers (which is the mandatory condition as per the state government) and the application deadlines for filing the application are being extended.
“For those who couldn’t fill the application within the proposed deadline, various colonizers have extended the last date of filing the application,’’ said Krishna Sharma, an employee of Gurgaon Realtech consultant.
“One of the project Andour Heights by Signature Global Builders coming in sector 71 had their last date of filing the application today, but they extended it for a week,’’ she added.
Nitya Pradhan, a 39 years old housewife whose husband has filed an affordable housing application in her name at one of the real estate consultant office is excited about the project. “It takes a whole life savings to afford a property in the city like Gurgaon. It is one of the rare opportunities which we don’t want to miss. The rest will depend on our luck,’’ she asserted.
Ramsons is offering 870 flats at sector 95 in 1 and 2 BHK flats for Rs 12.90 lakh and Rs 19.60 lakh respectively. Besides that, several projects also have the financing facility available. Ramsons’ flats are available under home loan. Urban Pyramid Homes which is offering 1680 flats at sector 70 A provides financing facility under personal loan. Tulip Infratech has offered nearly 800 flats in 1 and 2 BHK segments under Tulip Lemon at Sector 69.
“The USP of the affordable housing projects is that they are coming up in an area where we already have luxury condominiums projects which are available for not less than Rs 70 lakh for a decent 2 BHK flat. Because of its prime location in the vicinity of Sohna road, it is surrounded by full fledged amenities. Though the affordable housing have financially affected our other high class projects located there,” said Vipin Jain, the additional director at Tulip Infratech who told Iamin that nearly 3000 application forms have been filled for their affordable housing project Tulip Lemon.