Tough but not impossible- 8 years for affordable housing
The real estate industry is dancing a new tune ever since the new incoming government has been elected. There are many consultants and builders that have put forth statements in the days gone by suggesting low and affordable homes for all.
Taking a look at the manifesto led by the Bharatiya Janata Party, the Team Modi has decided to work on plans which promises to have affordable house for all Indian citizens in the nation. This was a manifesto that was set at the time of independence and the promise was to make deliverables happen by 2022, which is 8 years from now, says a source.
The vision of the BJP is being catered to and consultants along with builders are rushing against time to get their blueprints ready on affordable housing. So far the government that was did nothing to help, but the incoming government brings about a lot of promises for everyone.
In the past, the UPA too made such promises but couldn’t deliver as promised. The market looks at housing between the range of 10 lakhs to 30 lakhs as the affordable category, and the same has taken a long time to take off in the real estate world. Incentives were few and the low cost housing schemes in time crosses to mid level schemes and luxury categories as well, all of which bring in more revenues and profits.
The LIG or lower income group has suffered the most, and everyone is waiting for the incoming government to take over. Sources are also looking at the esteemed Jawaharlal Nehru Urban Renewal Mission ( JNURM) to continue with the plans of the BJP manifesto, hand in hand, which would bring in perfect coordination of having affordable homes for all.
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