With the vision of providing housing for all by 2022, the new government has revolved out various measures to boost the sector in the last few months. Driven by the recent repo rate cut by the Reserve Bank of India (RBI) and recent measures by the government, real estate developers are expecting a big boost in their sales numbers.
As per the recent report- Real estate developers are expected to deliver over 4.5 lakh affordable housing units in the coming 15 months with the aim to achieve the vision of ‘Housing for All’. The NCR would see the delivery of over 2 lakh units in between October 2019 to December 2020. The bulk of the units set for delivery in the next 15 months would be 2BHK and 1BHK units. Nearly 3.45 lakh of all units set for delivery would be 2BHK homes while 2.16 lakh homes would be in the 1BHK configuration. Another 1.95 lakh units will be 3BHK homes.
Mr. Pradeep Aggarwal, Chairman – ASSOCHAM National Council on Real Estate, Housing and Urban Development, Founder and Chairman – Signature Global India Pvt. Ltd. said, “The demand for affordable homes is expected to increase in the near future among record low-interest rates and higher tax benefits. The boost will also be driven by festive offers. Diwali is traditionally the time when most homebuyers purchase their dream homes so keeping in this all in mind, we are catering the needs of homebuyers by delivering 1,00,000 flats by 2022. Adding on, being the pioneers of affordable housing; already launched 10 projects in Gurugram comprising about 9,700 flats under Haryana government’s affordable housing policy and has so far delivered one project having 1,000 units.”