Housing projects forecast for the year 2017 show bumper growth not just in real estate sector but also the Indian economy for the months to come. The middle-class is driving the demand to suit its affordability in the domestic sector. To deliver this demand of the middle-class group is where the government comes up with Affordable housing.
Property in Gurgaon is all set to abide by the government’s policies of affordable housing as our nation aims to build one crore houses in rural India by 2019, and is going to face the cheaper sources of finance – including external commercial borrowings (ECBs) along with refinancing of housing loans by National Housing Banks (NHBs).
The budget brought improvement for housing sector by introducing new Credit Link Subsidy (CLSS) for the mid-income group with a provision of Rs 1,000 crore in 2017-18 even before announcing the budget. There was also an extension of the tenure loans under this CLSS of Pradhan Mantri Awas Yojana (PMAY) to 20 years from 15 years in addition to the allocation of 23,000 crore from 15,000 crore to rural areas. To match up to these Affordable housing scheme Gurgaon promises that one can buy flats easily.
The current housing trends which are swaying the nation are all aiming to bring the housing sector approachable at affordable rates.