ffordable Housing has revived the fortunes of a flagging real estate sector in our country where there is a concept of housing ranges from hole–in-the-wall flats to billion-dollar homes.  As part of the initiative (PMAY) initiated by the Prime Minister to provide affordable housing to all, affordable housing projects have been a motive by the government to provide their own house to all the sections of the society so that nobody remains homeless.

The developers and builders of the nation have been working hard to make affordable housing units ready before time but due to certain challenges, some states lagged behind. In order to deal with such challenges and situations, the government further made amendments in real estate related terms so that the execution could get a boost. The PMAY policy is entirely dedicated to suffice the needs of a common and middle-class section that cannot afford high-priced housing. There has also been noted an increased rates in the sales of affordable housing units.

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, we cannot deny the fact that most of the financial institutions and micro-lenders are every now and then coming forward to contribute to the affordable housing projects. 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 benefitting policies”