Why Affordable Housing Projects Are So Cheap. Should We invest in Huda affordable housing scheme projects. here we will explain all this all fact about this policy.
Affordable housing are designed for middle class people those are working in different sectors and shifted from villages , remote town towards metro cities and are looking for home for their self use . Therefore affordable housing is best for middle class people.
There is No Hidden Charges
As you know affordable housing Gurgaon scheme comes under many of the schemes of the government like Pradhan Mantri Awas Yojana (PMAY), RERA Act, Huda Affordable Housing Scheme therefore have no hidden charges that the buyer has to pay. These governmental acts keep the cash flow transparent & there are no External Development Charges (EDC) as well as no Infrastructure Development Charges (IDC). Along with these benefits, the charges of the house are calculated on the basis of carpet area while keeping the buyers’ perspective & budget in mind.
Lower Rate of Interest on Loans
The price of the property never gets stagnant or constant rather it always increases with time and therefore the banks provide a lesser rate of interest on loans with regard to these affordable homes. With time the price of the property increases due to the growth of available amenities in the surrounding location which leads to a higher return of investment.
Government schemes: several government initiatives undertaken to boost this segment have aided in developing too. Some of the best schemes are PMAY (Pradhan Mantri Awas Yojana) and Pradhan Mantri Awas Yojana flats in Gurgaon have been very successful. With subsidies being provided to the real estate developer, they have been able to offer the home at very affordable prices. These steps have been meant to presenting the best housing in Gurgaon to a large section of the property more willingly than only those who can afford the luxury housing.
| External Development Charges ( EDC / IDC ) | NIL |
| Club Membership Fee ( CMF ) | Not Applicable |
| Interest Free Maintenance Charges, IFMS | As Application |
| External Electrification Charges, EEC & Fire Fighting Charges, FFC | As Application |
| Covered / Open Parking Charges, CPC | NIL |
| Preferential Location Charges, PLC | NIL |
| Floor PLC | NIL |
| Park Facing | NIL |
| Power Backup Charges, PBC | Not Applicable |
| Service Tax/GST | As Application |
| MAINTENANCE 5 Years after Possession | As Application |
The recently launched housing schemes of DDA and residential flats schemes of HUDA has attracted a lot of applicants from across India. DDA received more than one million applications while HUDA has not released the number of received applications for its recent schemes in Palwal, Faridabad, Ambala, Taraori and Fatehabad. While the applicants of both DDA and HUDA schemes are awaiting for the draw results, experts says that HUDA schemes are more affordable than that of DDA.
DDA unit which are being offered in its 2014 housing scheme are priced at 6,000 to 7,000 per square feet in locations like Najafgarh, Narela or Rohini while HUDA is offering residential plots at the rate of Rs 3,600 to 4,000 per square feet in NCR locations like Gurgaon, Sohna Road, Sonipat, Faridabad and Palwal.
Another benefit of investing in HUDA schemes is that its units can be sold just after one year of the possession while DDA has put 5 year lock-in period for its housing units. The new clause was introduced by DDA in order to increase the number of applications from genuine home buyers and decrease applicants from the ones who apply for sole purpose of investment.
HUDA schemes has a provision to set price of unit on the basis of carpet area while the Indian real estate developers sell residential units by charging basis on the surface area of units. Charge on the carpet area also help the buyers to save around 25 to 35% of the price over other private or DDA units. However these benefits are not available in the plot schemes but some HUDA affordable housing schemes where it offers flats developed by private builders.
“The demand for MIG and LIG and affordable housing is so high that absorption for DDA flats and other affordable housing project at these locations will be massive”, said Santosh Kumar CEO, Real Estate Consultant Firm JLL.
DDA Flats would be a better option for those people who work in the primary locations of the (National Capital Region) NCR but HUDA’s project will be a better option for industrial employees and other buyers residing and working in outskirt areas like Faridabad, Sonipat and Panipat.
Maintenance charges for HUDA flats are also less compared to that of DDA.
DDA always has an issue of maintenance of its housing units while Haryana authority ties up with private developers/companies to deal with the prickly problem.
