Affordable Homes Gaining Popularity Among Indian Middle Class

While attempts to deal with problems in the real estate sector are going on, the increasing prices continue to be a concern. Middle class and low income group are at the receiving end and forced to compromise on their dreams. But, the popularity of a real estate investment remains almost constant due to chances of high returns. However, the high rates have affected the sales, and reports suggest many turning away from investing at this point of time.
 

And, this scenario turned to be in favor of affordable housing sector, with more and more people, especially from middle class opting for such options. The recent large scale migrant population has also contributed to this trend.

And, NRIS seems to show increased interest in an Indian property considering the monetary benefits due to rupee depreciation. However, affordable housing offers relief to property buyers with comfortable homes that suit the budget. Now a days, many such projects are coming up in city areas as well as outskirts. Yet, many places suffer from unavailability of land, and there by have affordable housing projects located away from city centers. For those looking for a city location, this could be a drawback. But, look at the benefits; you have a comfortable home away from the busy city life at a much affordable rate. Pune is a good example where several developers moved to outskirts due to scarcity of suitable land.

And, many areas in the city’s outskirts are facing fast-phased development. So, the reasonable housing projects could be an ideal choice for future.

In the present lifestyle, where there is less room for joint families, flats seem to be a viable alternative, replacing individual houses to a great extent. There are options for all in terms of size, amenities and other parameters that are significant while opting for a house.

The term affordable housing has become the most prominent term in the current Indian real estate.

IT city Bangalore is what most people prefer as ideal affordable housing location, says surveys. Locations like Pune, Delhi NCR, Mumbai and Hyderabad are also in the list.  

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