Affordable housing is most common word prevailing in the marketplace of real estates. It is a primary growth driver in the field of real estate to attract the ordinary people of India. Let us have a short look on what is affordable housing?
What is affordable housing?
The term affordable housing should understandable before entering into a topic. The affordable housing includes three main keywords namely income level of people, the size dwelling units of people and a third one is affordability. The property prices and income of individual mainly connect with affordability factor. The adequate shelter should be available by sustainability.
Main points before investing in Affordable Housing:
The funding for affordable housing creates a massive gap between the building costs that includes construction cost and maintenance of a property. There is an unanswered question for adequate amenities and suitable location of an affordable housing project. Start discussing with significant points to be considered while investing in Affordable housing schemes.
A minimum volume of tenure:
The necessity and pressure on urban land are increases due to commercial and residential accessibility. Both residential and commercial architecture are going side by side to fulfill their obligation. The standard area adoption will create the architecture work parallel towards adoption with flexible manner.
Availability of basic amenities:
The basic and community amenities should satisfy with dwellers. The basic amenities are sanitation, sufficient water supply, communication, and transport facility, sewage system, electricity, and markets. The community amenity includes a park, health care centers, and schools. These amenities should be available within the neighborhood. Thus, it is important to point out before investing in affordable housing projects.
Location of the project:
The project should accessible from the workplace at reasonable distances. The public transport will be at the nearest place to the project. The project will offer movability from one place to another area with ease manner. The affordability will significantly affect when transportation charges added to the housing installments. Thus, a location of the house is a critical factor while deciding investment in affordable housing schemes. To view list of affordable housing projects in your area click here
The cost of a house:
The value of a home is the primary factor while defining the term affordable. The price of a house not only includes the buying cost also consists of the maintenance cost which involves in the dwelling place. The lower operational cost and maintenance cost will be value added to the units of an affordable house. The minimum price will lead an enjoyable moment in life.
Quality construction:
The quality of construction is a fundamental part of affordability.The affordable housing segment comes across for LIG and MIG category of people. The affordable cost includes the necessary amenities and lasting construction of the house. The low price budgeted home comprises minimum amenities which are apart from basic one. The income and expenses of the house are correlated towards the term affordability.
Housing schemes in India:
The government of India provides a various project for house development and urbanization of India. The most attractive plan is pm aawaas yojna. This yojana drafts for ensuring “Housing for all by 2022”. The government provides home loans to Economically weaker section, Low-Income group and middle-income groups for both 1 and 2.
Wrapping up:
Five million homes are needs annually in India. Out of this 90 % of the households are mostly in the affordable home segments.
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