Affordable Housing: Comfort within Everyone’s Reach
Feb 22, 2018 | By SUPER USER
One of the major investments that a person makes during his lifetime is buying his dream home; a decision taken after considering every possible factor that defines good living and spells comfort for them.
People are becoming more cautious and aware of buying their homes. A lot of factors are taken into consideration, comparative analysis was done and finally, comes the decision of buying a safe haven called home.
With the increasing demand for space and the need to accommodate the increasing population, there is a huge demand and need for affordable housing. What exactly are affordable homes? Although the expression of affordable housing is quite generic and may have the different meaning for every individual, the underlying meaning more or less remains the same - that affordable apartments should address the housing needs of the lower or middle-income households. The concept is loosely defined on the basis of following parameters: disposable income, size of dwelling and affordability.
There has been a considerable shift in focus wherein property developers are working towards providing for more and more affordable apartments for people. For a big chunk of the society, affordable homes are actual living dwellings, while for some, they are simply an investment option.
If you are looking at investing in properties away from the chaotic city life, Affordable apartments in Ahmedabad, Gujarat are a good option. Groups like Adani Realty are building world-class townships with a range of options right from penthouses and villas to Affordable apartments (Aangan) - that are the need of the hour.
What is the driving force behind the demand for affordable housing?
India’s urban population is increasing manifold. Millions of young people are moving towards urban areas for better job prospects which in turn has led to increased pressure in the demand for more low cost, yet highly accessible space. More and more states of the country that are paving the way for urbanization are also working towards providing affordable homes to their inhabitants.
Another contributing factor to the rise in affordable apartments is the rising income levels that have led to a sizeable middle class segment. The middle class segment is expected to be the primary audience for affordable housing projects.
Where can you buy your dream home?
There has been a tremendous rise in the demand for affordable homes in cities like Mumbai, Ahmedabad and Gurgaon. There are a lot of projects that are being undertaken, keeping in mind this concept. Property developers like Adani, Dharmadev Infrastructure, Santosh Associates, Rajya Group, Galaxy Developers, DBS Affordable Housing are coming up with more and more projects under the banners of affordable housing.