| Topic : Affordable Housing: Is it becoming the new mantra? |
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Construction Planning & Management |
Construction Intelligence |
construction Planning
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Source : http://economictimes.indiatimes.com
Activity:
2 comments
283 views
last activity : 03 13 2011 14:51:28 +0000
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Dear friends,
I came to know that there are no buyers for the affordable housing which was developed by NCR.
It was touted as a realization of the ultimate middle class dream — houses that fit the pocket. Just that it went bust. Months after developers flooded the market with housing projects tagged as "affordable", there seem to be very few takers. The usual room specifications are 1200-1400 sq.ft. for a two bedroom flat. But most of the projects coming out now and being marketed as affordable housing measure between 800-1 ,000 sq.ft.
The affordable tag, has been added to a number of projects coming out in the past few months. But most have been finding it difficult to find buyers. Smaller rooms for a price of Rs 25-30 lakh have not obviously got buyers excited. Many are over Rs 25 lakh, which is not seen to be in the affordable range. On the other hand, projects with better specification which are actually selling in the less than Rs 25 lakh price bracket are usually hampered by poor location.
Ironically, till even six months ago, the affordable housing schemes were being hailed as a dream come true for a realty market that had been reeling from recession.
What is the reason behind?
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