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Reasons Making Affordable Housing
Home or housing is considered the basic necessity for one’s survival. With the ever changing economic, social and cultural landscapes in India, it is truly becoming an important asset to own for everyone. Buying a house is in itself a sense of accomplishment for many people in India. Reasons Making Affordable Housing
With sky rocketing prices of the Property for Sale in India, buying a home is like a distant dream for many. Every passing day even looks tough for us to own a home in metropolitan cities like Gurgaon.
So, with focus to combat against the ever increasing need for affordable housing in Gurgaon, the Department of Town and Country Planning in Haryana has come forth with Affordable Housing Policy 2013. This new housing policy is like first heartfelt attempt by government to make apartments and homes reasonably priced within the limits of prime cities like Gurgaon. The key reasons that allure the homebuyers towards this new affordable housing policy in Gurgaon include the promising builders, certified locations, and strict guidelines. Under the policy, buying an affordable home in Gurgaon has become really convenient and easier, thereby contributing towards the popularity of this housing policy.
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Approved Properties
All the projects that are being developed under the affordable housing policy 2013 are approved by the Town and Country Planning Department of Haryana. This is the approval of projects made by the Haryana Government and this assures the genuineness and legitimacy of the residential projects in Gurgaon.
Since the projects are required to be registered with the planning commission and RERA, homebuyers can now easily check the project details, progression and Possession date of the projects. These details can be checked on the TCP’s website or at RERA website and be assured and update about the project in all the steps.
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Better Returns and Regular Price Appreciation –
As mentioned, buying a property in Gurgaon is considered as the biggest investment today. Since the real estate prices are inflating rapidly, the affordable housing policy in Gurgaon is considered as a sustainable investment as it would sustain the value for years to come.
This is the only key focal point of affordable housing policy 2013 as every homebuyer would have the greater possibility to benefit from the property in coming years. The price appreciation of the properties is likely to hike in coming years and investors can also yield better profits from the properties.
Loan Benefits
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Any property you intend to buy comes with a whopping pricing plan and it makes quite challenging for a middle class family to buy their dream home. So, the only option they have is home loan which can help them own their dream home and turn their dream into reality. But, the interest rate attached with the home loans is quite high these days and it varies depending upon the loan providers and banks. But there are few sure benefits that you can enjoy with affordable housing loans.
Under the affordable housing loan policy, the loan amount can be as high as Rs. 35 Lac and for such a huge amount there are additional benefits under the priority sector lending. Moreover, the builders and developers of affordable housing projects in Gurgaon can also opt for the infrastructure funding from any financial institutions at as low as 10% interest rates.
Securing Future with Affordable Housing Gurgaon
As you have seen that there is very low capital investment in Affordable Housing Gurgaon, there is very low risk involved in such investments. Moreover, the houses can also be put on lease if you want and get higher returns on investments.
All these factors make Affordable Housing in Gurgaon more alluring and captivating option both for the investors as well as for the homebuyers.
Affordably Priced Properties
Under the PMAY or affordable housing scheme, the buyers are likely to pay the fixed price for the properties. Government has fixed the price for the affordable housing projects in Gurgaon. Because of this move by government, the possibilities of corruption by the developers and builders have been diminished.
Once the property has been purchased at fixed rate, the owners can sell it beyond the fixed price and yield higher return from their investment on affordable housing scheme in Gurgaon.
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