Are the houses in Delhi/ NCR affordable anymore?
September 27, 2018
With the recent policy reforms benefitting the affordable housing, the demand in the affordable housing segment has really gone up. The government has also relaxed its taxation policies which have encouraged the first-time homebuyers to make a decision. Today, affordable housing is leading the Indian real estate market. However, when it comes to buying affordable homes in Delhi NCR region, there are very limited options available to the first-time homebuyers.
Talk about the regions like Indirapuram (RS 4,500 per Sq. Ft.), Vaishali (Rs 5,000 per Sq. FT.), Noida Extension (Rs 4,000 per Sq. Ft.) etc., the per sq. ft. prices in these locations have moved beyond the reach of a mid-income group family. Moreover, the facilities available with the housing societies in these locations are not up to the mark against the price that they charge.
However, with the development of Delhi-Meerut Expressway, a first-time homebuyer can now think of moving few more kilometres down and look for affordable properties in Raj Nagar Extension and Modi Nagar. These localities are now easily approachable and offer better and bigger societies with a bouquet of basic amenities. The properties in these locations are available from Rs 3,500 per Sq. Ft. and Rs 2,200 per Sq. Ft. respectively. Developers like Techman Group offer facilities like Club House, 24 Hour power supply, 24-hour security, children’s park, gym and much more.
Though there are only a few affordable housing projects, in the true sense, available in the Delhi NCR region, a homebuyer can still find One dream home if he/she does his research properly. One should not fall to the ‘affordable housing trap’ and should compare price as well as the amenities, quality & previous track record of the developer before investing.