Affordable Housing A brighter segment in Realty sector

There is no doubt that affordable housing has become the flavour of the season even in this pandemic.Affordable Housing appears as a particularly bright opportunity within the attractive real estate sector of India. In order to bridge this demand – supply gap, the Government of India has taken major initiatives to provide a boost to affordable housing in India.

Though the demand for affordable housing had increased in recent times, the lockdown came as a major setback for the sector which was already reeling under crisis. Real estate is an immensely important asset class, and with the market and stock value’s uncertainty; it has become all the more valuable.

Despite real estate getting severe drubbing due to Corona pandemic, affordable housing continues to hold fort, showing promise. Notwithstanding the massive disruption and damage caused by Covid 19 crisis, affordable housing remains the lifeline of realty.

Mr. Pradeep Aggarwal, Founder & Chairman – Signature Global Group & Chairman – ASSOCHAM National Council on Real Estate, Housing and Urban Development says, “Affordable housing in real estate continues to be the most attractive segment for end-users. It registered 44% of the total residential sales, made during April-June quarter in eight prime residential markets of India. Moreover, the pandemic has reinforced home ownership as the most valuable asset in current times. This has led to homebuyers becoming more selective and conscious about their living conditions. With the government’s support via subsidies and low home loan interest rates, the influx of end-users returning to the market has significantly increased. Developers are also ensuring to provide essential amenities within the project premises, and maintaining a strong digital presence for effective communication with the class of new-age buyers.

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