Affordable housing projects have the fastest absorption rates and are focusing on this in neglected sector. Affordable housing Project ranges from Rs 35-40 lakhs. Mid-income housing is thus once again a star in the real estate investment route line-up.
It makes business sense in terms of the volumes the market is offering to developers and social sense because it provides buyers of economical housing more options to choose from. The demand in terms of units is phenomenal. In fact, developers getting into this segment can build for years to come.
We are not here talking of a 360-degree change of focus. This does not represent a complete shift of orientation from luxury homes to economic housing by prominent developers. At best, it is only a branching out. Most big players getting into middle-segment housing continue to build high-end projects. These developers are exploring a business avenue that has stood the test of time in terms of overall sustainability. Moreover, it is a new means for reputed developers to leverage their brand value. Generally, the residential market is chronically undersupplied and there is endless opportunity.
Thanks to higher incomes and the availability of housing loans, buyers in the mid-income housing segment are no longer as price sensitive as they were in the past
There are various factors aiding the mid-income housing segment.The present generation is not conservative about home loans, and is less averse to risk. Moreover, there is now a decided shift from the joint family to the nuclear family. While the past generations did give importance to for the future, they lacked the tools that are at the current generation’s disposal.
Most developers have identified these factors and zeroed in on them by making affordable housing available to these buyers. This benefits both buyer and developer as buyer gets what they want at affordable rate and the developers benefit by the sheer economics of scale. In this win-win situation, some of the biggest names in Indian real estate have begun responding to the clarion call for affordable housing, and foreign funds are pouring in via joint ventures.
As scheduled high-quality mid-income projects come into the market, the Great Indian Real Estate Boom will translate into real time benefits for the common man.
Interesting Links to Follow:
Now, developers plan affordable homes for middle-class India
Tatas planning ‘Nano’ houses for Ahmedabad
Middle Income Housing: A study of 15 Projects in India
Tags: Apartment, Bangalore, Housing, India, Mid-Income
Mid-Income Apartment Housing In India…
Affordable housing projects have the fastest absorption rates and are focusing on this in neglected sector. Affordable housing Project ranges from Rs 35-40 lakhs. Mid-income housing is thus once again a star in the real estate investment route line-up….