Two Reasons Why Affordable Housing in Delhi is Attracting Homebuyers

The government of India introduced PMAY (Pradhan Mantri Awas Yojana) on June 25, 2015, with the vision to provide affordable housing to low/mid-income masses. Today, affordable housing accounts for over 35 per cent in terms of housing supply in the leading 7 cities in India, including Delhi. Having a place that you can call your own is a dream cherished by many Indians and affordable housing in Delhi and other such cities brings the opportunity to turn that dream into reality.

The post mentions two noteworthy reasons why affordable housing in Delhi is so desirable among homebuyers.

1.     The Involvement of Government

The concept of affordable housing is backed by the government and to encourage people to buy properties, it is even offering a generous subsidy on home loan interest rates. To pass on the benefits of affordable housing and help the government make PMAY a success, several real estate developers have developed residential properties under affordable housing in Delhi and other cities. Also, with the involvement of state governments, the price of such properties has been capped to them affordable to purchase. With PMAY, you are sure to get the best property investment opportunity in Delhi NCR. Check your eligibility criteria today.

2.     High Demand and Less Supply

Initially, the concept of affordable housing was surrounded by many misconceptions. However, with time, it turned out quite the opposite of what people were thinking, be it from the investment point of view, construction quality, or the kind of crowd it was supposed to attract. Due to stringent guidelines by the government to strictly comply with, affordable housing impressed on all such fronts. As a result, it led to a steep rise in the demand for properties, making it challenging for real estate developers to cater.

The capital city, Delhi attracts people from far and wide as it has better employment & education opportunities and socioeconomic infrastructure for a comfortable life. If buying a property under affordable housing in Delhi has been on your mind, now is the best time to go about it.