Property Appreciation of affordable housing flats in Gurgaon

Property Appreciation of affordable housing flats in Gurgaon. Every Home buyers or investor think first what is the future of there property after 5 to 10 years,

In a recent newspaper advertisement, the developer of an under-construction housing project in Gurgaon, offered a two-bedroom flat at a price of Rs 22 lakhs. Property prices in the region, where the project is situated, are already high and speculative. A two-bedroom apartment in Gurgaon, in a regular housing project, is generally priced between Rs 60 lakhs and Rs 80 lakhs, depending on its location and the colony. In the recent past, a number of developers, like the builder in Gurgaon, have announced affordable housing projects across the country.

Advantages of affordable housing

The demand for affordable housing in the country is huge. Moreover, the interest shown by a number of large corporate groups in this segment, is likely to facilitate timely delivery of projects, which remains a nagging issue in the realty sector. Consequently, buyers in this segment may not have to wait indefinitely, like their counterparts in other segments.

Disadvantages of affordable housing

A closer look at the upcoming projects, indicates several challenges, in spite of their price advantage. “Most of these projects are located on the outskirts of cities and in far off areas. So, the absorption in these projects could remain low, despite the demand for affordable housing,

Expected return will be in Affordable Housing will aprox. 200- 300 % in Gurgaon.

Reason are give below.

Normally we going for buying 2 BHK in Gurgaon in Original booking or Resale . We have no options below 60 lac to 70 Lac (any where in Gurgaon). and for purchasing these 60- 70 lac homes, a buyer need minimum 20 % self funding which will be 15 Lac aprox.  and generally for 80 % will go to Bank for home loan.

Means he will take 45 lac to 55 Lac amount as home loan. and after possession he will pay aprox 50000- 60000/- per month home loan EMI.

Today if the house value is 60 – 70 lac for 2 BHK, in next 5 years the value will be aprox 90 lac- 1 cr.

If a normal house cost will be 90 lac to 1 cr after 5 years than affordable house cost will be half price that time.

means affordable price will be minimum 50 lac.

So invest for 20 lac today and get minimum aprox. 200- 300 % appreciation after 5 years.

Measures to boost affordable housing

  • Cheaper rates on home loans: Interest rate subsidy of 4 per cent for loans up to Rs 9 lakh and 3 per cent on loans up to Rs 12 lakh.
  • Refinancing: National Housing Bank will refinance individual loans worth Rs 20,000 crore in 2017-18, thereby increasing the risk-taking ability of lenders.
  • More funds to build affordable houses: Under the Pradhan Mantri Awaas Yojana, the government has allocated Rs 23,000 crore to complete 10 million houses by 2019 for those living in kachha houses.
  • Tax benefit for builders: Housing projects eligible for 100 per cent deduction in profits will now include those that provide houses up to 30 sq mt carpet area within municipal limits of the four metros and 60 sq mt for other locations as against built-up area and completed within five years of approval instead of three years.
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