Affordable housing has\nbecome a mainstay in the product portfolios of a lot of real estate developers.\nThis category of houses is growing in importance in the Indian context quarter\nafter quarter. There is ample data that suggest that homebuyers are increasingly\nopting for this type of home for the kind of merit they carry. Even the\ndevelopers have come of age in their offerings of affordable homes and are\noffering the very best in terms of features and safety in their affordable\ncategory of homes. Here are the top 5 reasons why affordable housing is\nbecoming important:<\/p>\n\n\n\n
1 Value-for-money Aspect:<\/strong> This type of residential unit has the best\nvalue-for-money proposition, which makes many end-use buyers choose such a\nproject or such a property. Even those who have one home and want to invest in\nreal estate as an asset find that it is best to invest in affordable homes as\nthey offer remarkable returns with their value-for-money tag. When investors\nwant to sell off this type of property, they are likely to find buyers much\nmore quickly as there are always people who are willing to buy this class of\nhouses.<\/p>\n\n\n\n 2 Central Government Sops:<\/strong> The government has, from time to time, come up with sops\nto promote this category of houses as it tries to help a larger section of the population\nto fulfil their dream of owning a house. In the July 2019 Budget, the\ngovernment provided an additional income tax (IT) deduction of up to Rs 1.5\nlakh for home loans to buy affordable houses priced up to Rs 45 lakh. Then, in\nthe Budget for 2022, the government extended the provision for additional tax\ndeduction till 31 March 2022. All the measures make an affordable home even\nmore attractive.<\/p>\n\n\n\n 3 State Government Support: <\/strong>There are several states in India that have come up with\ntheir own measures to boost affordable housing. They have put a ceiling on the\nprices of the properties on a per square foot basis. This means that these\nhouses are cheaper than other houses of other categories. The state governments\nalso provide several benefits and tax exemptions to the real estate developers\nfor their affordable housing projects.<\/p>\n\n\n\n 4 Rent Assurance:<\/strong> There is far greater assurance of letting out such a\nhouse since the rents of such houses are also quite affordable, so there are\nfar more takers of such homes. Even in times of recession in the economy, there\nare greater chances of finding tenants for this class of homes than bigger and\nluxury homes. Thus, from the point of view of getting assured returns or\nassured rents, this is a better bet than the other classes of homes.<\/p>\n\n\n\n Affordable housing has\nbeen at the centre of the government\u2019s Pradhan Mantri Awas Yojana-Urban\n(PMAY-U) program, which aims to provide shelter to many citizens of the\ncountry. The program aims to complete the construction of 20 million houses\nacross the country by<\/p>\n\n\n\n 31 March 2022. The\nprogram covers 4,331 towns and cities. Taking PMAY-U to the next level is\nleading real estate developer Migsun Group. The Group is committed to providing\nthe best residential properties at affordable prices to the country’s citizens.\nIt has been building future-proof properties in Delhi NCR like Raj Nagar Ext,\nNoida Ext and Greater Noida. Projects of Migsun Group like Migsun Vilaasa and\nMigsun Roof see heightened demand.<\/p>\n","protected":false},"excerpt":{"rendered":" Affordable housing has become a mainstay in the product portfolios of a lot of real estate developers. This category of houses is growing in importance in the Indian context quarter after quarter. There is ample data that suggest that homebuyers are increasingly opting for this type of home for the kind of merit they carry. […]<\/p>\n","protected":false},"author":1,"featured_media":192,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-191","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-affordable-homes"],"yoast_head":"\n