Hidden Benefits of Affordable Housing Scheme

The payment of a home is, for most people, the highest expense in which they invest during their lives. However, every day the situation gets worse. The lack of affordable housing, meeting the needs of today, makes much life from check to check to the brink of financial paralysis. It is a situation that suffocates not only low-income families but also affects middle-income families alarmingly.

With the increasing population and growing number of people towards metro cities, the condition of these cities is becoming worse in terms of housing plans. While the real estate investments are becoming beneficial, it is getting harder to find affordable houses suitable for all segments.

Benefits:

1. Economic prosperity

The development of affordable housing scheme in Faridabad provides direct economic benefits simply by allowing low-income people to have the necessary funds to spend on food, clothing, medical care, education and other goods and services of the highest order. Also, studies show that low- and middle-income households are more likely than other socioeconomic groups to spend that extra money on a daily basis.

2. New Jobs

The development or rehabilitation of affordable housing creates jobs in the field of construction. A study estimates that for every 100 affordable housing units created through the Low Income Housing Income Credit program, the construction phase of a project can generate an increase of more than 120 Jobs. Continue reading

Know about Affordable Housing in Delhi/NCR

Delhi is the most populous city in India, and the second-most populous city in the world. According to current estimates, the per capital income of national capital is more than that of any other city. Property in Delhi is very expensive, partly because it is capital city and the major commercial centre in north. Delhi and adjacent satellite cities Ghaziabad, Noida, Gurgaon, and Faridabad together form the capital region.

Affordable housing scheme in Delhi-NCR

Sky rocketing property rates in Delhi-National Capital Region (NCR) have made housing unaffordable for many looking to buy their first home. There are still micro-markets out there where a person is able to buy affordable homes. And to make your life simple, we list 3 regions that just may be perfect for you.

Raj Nagar Extension

Known as the most promising housing hub of the NCR, Raj Nagar Extension mostly consists of apartments in Ghaziabad with 1 BHK flats available for Rs 15 Lakhs to 4 BHK flats at around Rs 50 Lakhs. There are more than 30 developers in the region who are working on 50 projects with approx 20,000 ready built units and another 30,000 units that are under construction. Other points to look out for include: Continue reading