Many realty players are showing interest in Modi Government’s affordable housing schemes
The Modi government is putting a lot of emphasis on the ‘’Housing for all by 2022’’ schemes and the realty sector is also singing to that tune after a lull of many quarters. In June, Mahindra Lifespace Developers Ltd, part of the Mahindra Group, announced plans to build 2,200-2,500 houses costing between 10 and 20 lakhs for families earning Rs.20, 000-40,000 per month.
The company will build affordable homes under a new brand called ‘’Happinest’’, and the first two pilot projects will come up in Avadi near Chennai and Boisar near Mumbai. Sriram Mahadevan the business head of Happinest mentioned that Mahindra Lifespace is trying to tap a customer base of first-time homebuyers, as having an own home is everyone’s right.
Mahadevan also mentioned that since the prices are very lucrative, it was difficult to keep investors away. However the company will try its best to limit buyers to people who intend to live in the houses. These affordable homes are not for people who want to buy a home for investment purpose and earn rental income out of it. It is meant for people from the lower income groups to have their own roof above their heads.
Mahadevan also stated that as part of the company’s financial inclusion method, the team has already started interacting with the potential customers, by visiting the industries in the vicinity and reaching out to them.
Source- Mint
Affordable housing schemes, expectations from modi government, high hopes on the Modi Government, Modi government
