Buying a home is getting costlier in Indian cities because of the inflation in Indian economy. The rising prices have made it so difficult to survive for the low income groups and weaker sections of society that owning a shelter is next to impossible.
Considering the inflation the Indian housing department and property experts have adopted the concept of affordable housing in India. There are many residential projects coming up in the Indian cities. The national capital region which includes Noida, Ghaziabad, Gurgaon, and Faridabad are coming up with many affordable projects after the phase of global recession. There are many affordable options of home in Gurgaon.
A house in Gurgaon and Noida are usually very expensive but affordable options would help the residents. The concept of affordable housing is expected to be a profitable bargain for the builders by drawing a larger count of buyers from the low and moderate income groups. In affordable housing projects the land area has the maximized usage. For instance the area which was used to build one flat is dedicated to two flats. More buyers are entertained for a launched project and thus more income. A buyer gains by getting a home at reasonable rates and the builder is getting profits by selling a larger number of flats in the same area of land.
Although property prices are shockingly high and have never been at such soaring values but the property purchase in the current norms is historically the easiest times to buy property. This is due to the easy accessibility to the money lending institutions whether banks or other financing companies by the common man.
The feasibility of housing loans for common man has contributed greatly to the increased buyers in the realty market. The current rate of interest is high but affordable by a large number of customers who are buying properties on loan.
As the country is developing rapidly in all the sectors, the high property growth and appreciation has lured a very huge count of investors in the Indian market. The relaxation of FDI norms by the Indian government has augmented the interested buyers for Indian realty to a great extent. The launch of affordable projects and the eased access to loans etc. has greatly enhanced the investment in the realty market.