Affordable Housing winning all hands

Ever since the government of India realized the main scenario wherein the majority of the people are homeless due to the high priced real estate sector, it announced its ‘Housing for all’ scheme. The initiative was tailor-made for lower-income groups to provide them with the homes of their own. Affordable Housing presents an attractive, high-quality housing alternative for these households who may otherwise need to move away from their local communities and families to access appropriate housing. A key feature of Affordable Housing is that it offers local people a diverse and sustainable range of housing options that suit their needs and the needs of the local community.

The government authorities try to eliminate the challenges that are being faced by the developers and builders while executing such projects.  Also, there is a clear-cut statement by the experts that this segment is going to be the most established wing in the coming years. The policymakers and the financial institutions have made an ample amount of amendments in order to assist the same PMAY scheme.

Mr Pradeep Aggarwal, Chairman – ASSOCHAM National Council on Real Estate, Housing and Urban Development, Founder and Chairman – Signature Global India Pvt. Ltd. said, “The framework and government’s push is clearly denoting that there is going to be sufficient growth in the real estate sector which was much needed and the perspective about the real estate industry is transforming.  The good news is that the sector has already started experiencing the positive impact of these laws and benefits policies. Adding on, the New Year 2020 has great potential for both residential and commercial real estate business. The realty sector witnessed a series of structural reforms with the advent of RERA, policy change, and so on, which has helped increase transparency and trust between builders and buyers. Moreover, the clarion of ‘Housing for All’ has brought the mid-income housing and affordable housing sector to the foreground.”

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