Affordable housing policy in Karnataka

Q: Has the government given green signal to the policy of affordable housing?

Shazad Laskar, Bangalore

20th September 2013

Real estate News in Bangalore

hudco

affordable housing in karnataka

karnataka state government

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Replies (4)

How about the growth of unsold stock?

James, Bangalore

21st September 2013

Comment

According to development authorities, the sluggish pace in the real estate sector was obvious from the fact that apartments, on a average in key cities of India, remain unsold for nearly 25 months in Bangalore, 48 months in Mumbai and 23 months in New Delhi.

Darshan Shetty, Bangalore

21st September 2013

According to property experts, urbanization in South India at 41.2 percent is comparatively much higher and implies immediate risk on the growing opportunities for the realty sector and its investors. The main issue is delivering affordable houses for the poor section is the end number of roadblocks encountered by developers from permissions to capital investments.

Chetan Hansraj, Bangalore

21st September 2013

Only a small correction in the process will cut down the construction cost. Urgent steps should be taken to lessen the regulatory and micro-economic risks and give the factor of affordability a new edge.

Jignesh Kumar, Bangalore

21st September 2013

Although, at 41% the urbanization in southern India is ranking high, the off-balance growth of real estate is encouraging the demand-supply mismatch. Statistics confirm that there exists 95% shortage for housing units for the low-income and weaker sections of the society. This calls for the need for affordable housing policy in fast-track mode.

Chetan Hansraj, Bangalore

21st September 2013

Comment

What is the rate and size the government official has decided for an affordable housing?

Shazad Laskar, Bangalore

21st September 2013

Comment

According to the decision taken by government officials, an affordable house would measure between 600-700 sq ft and fall in the price bracket Rs 6 lakh-Rs 7 lakh. In addition to this, developers in the city are exposed to a number of other challenges such as issues with land acquisition and wide array of clearances from government bodies.

Darshan Shetty, Bangalore

21st September 2013

For a housing project to take off, at least 20 clearances are required by a developer from numerous government bodies. This, as a result, plays a pivotal role in delaying the project and mounting the cost significantly. To avoid this, methodologies must be implemented to get clearances and expedite the residential projects to cut down cost and time.

Pratap, Bangalore

21st September 2013

To shower the economically weaker sections of the society with a gamut of economical houses, the Karnataka State Government will give a green signal to the policy of affordable housing. As a support to the move, the state-run Housing and Urban Development Corporation-HUDCO had sought incentive to promote private sectors to play an active role in the scheme for affordable houses for the poor.

Pratap, Bangalore

20th September 2013

Comment

In view of credit risk, high capital cost and increasing inventories, the government has ensured to provide the private developers and community borrowers with every financing option to meet with the objective of affordable housing. Furthermore, the private sector will be allowed with the leverage of external commercial borrowings to fulfill the concept of affordable houses, since the stakeholders face a number of financing challenges because of unavailability of long term finance at a cheaper rate.

Jignesh Kumar, Bangalore

20th September 2013