Why Affordable housing a game Changer masterstroke?
Before Affordable housing you cannot even dream of having a house in metro cities like Delhi NCR Gurgaon, Mumbai, Bangalore, Hyderabad, pune. It’s a totally monopoly of some Builders, Big Buyers, Investors and land brokers.
Each and every one is playing its part to increase property price in metro cities. It all start with Land Broking Firms, they buy land area at lower price and after some time they sell at much higher cost to builders.
After Buying Land from Brokers builder starts their projects in soft launch.” Soft Launch” is a marketing gimmick where builder is looking for some pre-investment for their project s.
With the help of some HNI, Investors, Property dealer’s builder generate some Amount of based on pre-booking plans like CLP – Construction Link Plan, TLP Time Linked Plan and other Plans. With some Investment some broker asks some exclusive preference like they under write a project. And With builders Now they create Hype With their marketing team’s advertisement different attractive offers and many other things and after few time property prices is double tripled in growth.
After some time with this happening property market is nearly crashed in metro cities. They saw a big drop in investment due to high price of property.
Having seen this government starts affordable housing scheme for middle class peoples, so that they can buy houses in metro cities and to stop monopoly of big builders and brokers and to provide stable property market. In this government help small builder to develop their projects under ppp partnership.
In this government give benefits to both buyers and builders. Now Builders are make a flat having value under 40 lakhs onwards depending upon location. With these government is working for housing for all mission 2022.
For more details view affordable housing policy.
With affordable there a huge cash flow in Indian real estate’s market and saw a phenomenal growth of 30% with also boosts Indian GDP and jobs creations. 70%Projects having homes value less than 50 lakhs are launched between 2016 to June 2017.
The government has granted the much-coveted infrastructure status to affordable housing, giving developers access to cheaper sources of funding, including external commercial borrowings (ECBs).
Seeing this exponential growth Government also increase construction time period of 3 years to 5 years.
With the increase in finical growth and supports developers are very confident and making affordable housing more lucrative and ever standing to increase urbanization and play a pillar role in Indian economical development.
In this government is seeking to develop 1.9 crore more units to fill the gap between urban development
As a conclusion we can say that affordable housing is a true masterstroke by Indian government