In my previous post on Affordable Housing - A Myth or Reality, I discussed the nitty gritty of Affordable Housing which is a new buzz word in the reality market. Today while going through property section of a newspaper, I observed that although a majority of the ongoing projects are positioned as Affordable Housing Projects, only a handful are indeed so in true sense. It does not cost anything for a builder to tag a project as Affordable Housing Project. Low cost housing is often referred to as Affordable Housing Project by small builders which we will discuss in detail in this post. As a ... Read More
Affordable Housing – A Myth or Reality
Affordable Housing is new buzz word in Real Estate market. Currently Real Estate sector is going through difficult times as the economy is still in bad shape and interest rates are high. Job loss is still a reality and it will take atleast 2-3 years to bring the economy back on track. Real Estate inventory has piled upto alarming levels in major cities. Currently banks lend at 14%-16% to builders which further increase the cost of property. In order to boost demand recently RBI revised the definition of Affordable Housing to benefit borrowers. Affordable housing is clubbed with infrastructure ... Read More