villas near joka metro

Why it is so affordable to buy a house in India right now?

New era of affordable housing

A new era of affordable housing has emerged, where simple and affordable housing concept is possible and up for grabs. One cannot measure affordability as it varies from person to person. But with a whole new set of rules, regulations and lower interest rates, it has become easier to buy homes than it used to be in the previous era. The concept of affordable housing is mostly designed and meant for the economically weaker section or people who fall into the low category income group. If you are looking for affordable villas in south kolkata, this is the place to be.

Why is it this important?

Here is the criterion for the low income groups. If household annual income is 1 lakh or less, it falls under the EWS category. If the household income falls between 1 to 2 lakhs, it will be placed under the LIG category. These categories play a pivotal role in determining who gets to take advantage of the lower income group category. Although these categories were not recognized earlier, they are slowly gaining importance in the current era. These two categories form the majority of the pie and are thickest part of the economy. They can make a difference to the economy. This would also add some boost to the real estate sector.

Affordable housing for the middle class

The concept of affordable housing is the next big thing in the real estate sector in India. The prime minister of India has announced Housing for all by the year 2022 mission. This means all sections of the society will benefit from this mission. Many schemes have been announced so far, including the slum rehabilitation program of Rs1 lakh on an average. Also a subsidy of 6.5% has also been granted for home loans under the CLSS or also known as credit link subsidy scheme.

Is affordable housing really cheaper?

It is quite easy to measure the affordability of EWS and LIG, but measuring the affordability of the middle class is quite tough. If you as a middle class family, is looking to own a home within the boundaries of the city and not necessarily in the outskirts of the city, chances are you will not be able to afford it, especially if you have a low budget. Owning a home in the outskirts of the city within 30 to 50 lakhs is probably possible, but if you are looking for a home within the vicinity of the city, then it is only possible through the affordable housing concept. This way a middle class family can own a home in the middle of the city within their specified budget. The CLSS scheme is applicable in a situation like this.

Why the AH scenario?

AH sells quicker within a shorter period of time in comparison to normal housing. This will remain unsold in the current scenario of real estate market. Thus, to cut costs, the flats or the unit size is made smaller and thus affordable. Amtala harbour greens are an affordable project with modern villas and bungalows available for potential residents looking to get a home away from the city streets, somewhere quiet. We have villas near Joka metro.

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