MUMBAI: After years of selling pricey luxury homes that boasted amenities like signature golf courses and jacuzzis, builders finally seem to be moving toward modest apartments to suit middle-class pockets.
A clear indicator of this is the sharp uptick in home loans driven by sales of houses costing below Rs 30 lakh.
The cue for builders to change tack came from this year's Budget, which offered tempting tax and interest concessions for the affordable housing segment.
This year, almost half of all bank credit comprised loans to housing, given the almost non-estent corporate loan demand.
"What is driving this growth is not high-value property but affordable homes, considering that the corporation's average loan size is Rs 25.6 lakh. This is the first time in several quarters that HDFC's average loan size has dropped from Rs 26 lakh,'' he said.
Build massive buildings and give them.on rent. Don't try to give permanent shelters to people. It's impossible.
Good proposal for middle income group families to get them their dream house soon!
No po itician should be allowed to have a share in any property. The fat old burdens have brought up the cost of real eastate at unreachable heights.
with affordable and timely delivery of houses, seems we are going in rit direction.
Boomerang - 4 hours ago
Agreed sries have increased in comparison to what it was ten years back. However with inflation and everything being overpriced, there is no excess left for investment. An average income individual is struggling just like be was ten years back. At least the same individual was able to invest in real estate back then. As of date, the real estate prices have gone way ahead of time.
no water and ricity what is the purpose of acquiring a flat?
It's a sham.. Esting home buyers not getting flats on time neither delay penalty..
Don't get in trap ..... many small builders are cheating people ... 30 lac it's not possible to get .... pls be careful
It has two sides. 1) People are getting their own homes. and 2) Trees are being cut, People using multiple Air conditioners at their homes and as result Monsoon clouds are bypassing those areas.
At Kolkata many new flats constructed this year in the range of even 25 to 35 lakhs are remaining unsold. If you want pictures and positions to be marked on Google map I can help. In pictures you will see the reality is more harsher than even my words.
The subsidy provided by the go nment is not for the financially weaker section of the society, because they earn much lesser than 9 lacs or 12 lacs a year. The lower income group can still not have affordable houses as there is none for them