According to the latest research report by leading global real estate services firm Cushman & Wakefield covering the top eight cities of India, the affordable housing sector has recorded a surge of 27 per cent in new units launched year-on-year.
- Affordable housing is an attractive proposition, for both developers and buyers alike, as the demand is huge and largely unmet.
- With new reforms, availability of more funding options for the developers such as ECB (External Commercial Borrowing), FDI and debt financing from national financial institutions are easy.
- Developers have increased marketing schemes such as interest subvention, possession-linked payment plans, price guarantee schemes and waiver of floor rise to defy the weak market conditions.
- With implementation of GST and RERA, there is a new sense of confidence among buyers.
- Affordable housing is the only really vibrant segment in Indian residential real estate at the moment.
- Affordable housing has gained fresh momentum, after it got the infrastructure status.
Source: ET Realty