Affordable housing is going through great proliferation. Even if we look at only the Delhi-NCR region, more than one lakh houses in the affordable housing segment will be built in the coming years. Builders are sure of a boom in demand owing to the amendments made by the government in the 2017 Budget.
Raheja Developers, Supertech, Signature Global, BDI, Tulip, Gaursons and many more have plans of launching new residential projects in Delhi-NCR in the category of affordable homes.
Supertech has plans of launching 40,000 units of affordable housing in Delhi-NCR, with about 25000 units being completed by 2020.
Another big realty name in the affordable housing segment, Signature Global, is likely to launch 30000 units in various residential projects in Delhi-NCR in the coming one year. 7500 apartments have already been launched by Signature Global.
Raheja Developers and Gaursons both, have plans of launching 10000 units in residential projects in the coming years.
Many other realty firms have also started to switch from current residential projects to affordable housing ones by confining the unit size at 60 square meters, in Gurgaon, Greater Noida, Yamuna Expressway, Tronica City, Raj Nagar Extension, Bhiwadi and Daruhera. The range of these apartments will be from Rs.15 lakhs to Rs.35 lakhs which will be decided upon the area of the apartment.
The different measures taken by the government like the extension of the tax benefit under section 80IB and giving infrastructure status to affordable housing segment would encourage buyers to keep very prices at a very competitive level.