Affordable Housing Is A Reality!

The demand and the need for low cost housing in India are huge. But the supply is extremely poor. Due to lack of margins, not many real estate companies were interested in these projects. But with the Governments game changing initiatives, dreams of the Indian middle-class are all set to be realized.

Much Needed Loans Become Easier to Access

Interest subvention on home loans under the Pradhan Mantri Awas Yojana will make it easier for buyers to access homes. Homes that were too costly earlier are likely to become affordable under this scheme. Home loans up to INR 50 lakhs for the first time buyers are to be given out according to the new budget scheme. Under the PMAY, the subsidy on home loan interest is going to be increased too.

Grass Root Changes in the Industry

It is a structural change from within that is going to help the housing industry. The tag of infrastructure being given to affordable housing will improve things tremendously. Developers will now have long term funding at cheaper rates. The implementation of Real Estate Regulatory Act (RERA) will also help the industry reform. Once there is more clarity in the industry the relations between the buyers and developers will improve. And with the curbing of malpractices and measures that make sure projects are completed on time, the industry is moving towards a better, transparent future.

With all these changes gradually improving the housing industry, affordable housing is definitely achievable in the near future.