Sales volumes for properties in Gurgaon further went down along with fresh unit launches were restricted in town.
There was stability observed in quoted prices and discounts were available, but people stayed away from purchasing residential apartments in Gurgaon. Gurgaon saw a fall in investment at the residential properties as residential buyers, much of whom were primary end consumers were on the lookout for ready-to-move-in apartments and were wary of promises of future infrastructure or land. In general, Gurgaon’s economy saw a great dip recently.
With the new budget putting affordable housing under the category of infrastructure, the government plans to get closer to the goal of providing affordable housing for all by 2022. This newly-granted infrastructure standing also makes accessible cheaper funding choices from real estate contractors that can now get funds in a borrowing rate less than 10 percent for developing affordable housing, resulting in a following and definite decrease in purchase prices for homebuyers.
About 95 percent of the demand in the real estate industry has been of affordable housing. With decreased borrowing rates, the real estate developers can now focus on constructing housing projects where a major requirement lies, and look forward to a healthy expansion in this segment.
The budget has benefitted the end consumers the most affordable housing gurgaon. With enormous tax advantages provided to individuals in the lowest income bracket as a substantial tool to push affordable housing, the dream of many to own a home now seems to have nearer to realization.
As a real estate market, Gurgaon has excellent chances of recovering from the downtime in the recent past. Among its driving advantages has been its ability to churn out high-quality office spaces, and now while building on this advantage, if programmers in Gurgaon prioritize constructing and launch ready-to-move-in affordable housing projects that end-consumers put high value on and then reward, then Gurgaon will grow up as a strong real estate provider meeting the housing demands of its occupants.Real Estate Read More