Advantages & Disadvantages of afforadble housing in Chennai.

Q: I am planning to have an 2 Bhk apartment in Chennai , But i am interested in affordable housing projects. What will be good & bad thing about affordable housing.

Pavan kumar, Chennai

27th October 2014

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Sir, I have received Allotment letter from SRS Project P Ltd Sector-84, Faridabad to continue to invest with them by alloting me a 2 BHK flat at 15th Floor which has carpet area 475 Sq. Feet and Balcony area 100 Sq. Feet and i have heard there are very little chance to get appriciation in these area and advised me to surrender it. Please suggest what should i do.Thnking you in advance. Anil Kumar Delhi

Anil Kumar, Delhi

22nd June 2015

Comment

Hi, Anil I think you have to put your query in a separate thread. Appreciate your responses and thanks for your time... This thread is for the Chennai project...

Javed, Chennai

7th July 2015

Hi all,
I just want to Highlight some of point regarding affordable housing. affordable mean price which is in the range of 10 to 45 lac. govt aim for providing housing for all till 2020. it means Affordable housing refers to housing units that are affordable by that section of society whose income is below the median household income

VKumar, Chennai

27th January 2015

Comment

Hi Mr Pavan,
As per my knowledge, this Affordable housing scheme launched by Govt. Of India is one of the best initiatives to improve India Real estate Market till now. Affordable housing refers to housing units that are affordable by that section of society whose income is below the median household income.

subramanya, Chennai

27th October 2014

Comment

Hi Pavan,

According to me, the Government of India has taken various measures to meet the increased demand for affordable housing along with some developers and stressing on public-private partnerships (PPP) for development of these units. Affordable housing is a residential unit in urban areas which are afford ably priced and falls within a specific limited income range.

VKumar, Chennai

27th October 2014

Hi Guys,

The parameters that contribute towards the pricing of the house can be attributed to the location, function of the city, type of project and also the construction technology used. Definitely not today but tomorrow locations/Areas/Sectors will change there nature (Developing/Developed/Take some time), suppose today it's good tomorrow may be better or worse. So choose wisely.

Ravi Kumar, Chennai

27th October 2014

Hi Mr Pavan,

Yes Mr ravi Kumar, I understood what you are pointing at. Now a days people who are interested to have an home, they knew that most of the affordable houses are coming in rural areas, having a many civic issues. Why going for such location and living among many issues. People those who understand these things they are comparing projects according to location and then deciding to buy it.

Javed, Chennai

27th October 2014

Hi Guys,

No no Mr javed, i am not saying you are completely wrong but think why builders will choose that kind of areas. It is not like all affordable housing properties are in rural place and people are not interested in ,but it is advisable to choose an affordable house wisely. Many affordable housing projects are in good location which draws a lot of investors & home buyers.

VKumar, Chennai

27th October 2014

HI Pavan,
Advantages:-
A large number of end-user who have the funds to buy the flat on re-sale. With capital appreciation, there is a tax angle that works if you are first time home buyer using a home loan. As per Union budget 2013, the first time home buyers can avail a tax deduction of Rs. 1 lakh on the interest paid on their home loan up to Rs 25 lakh, provided that the house value do not exceed Rs. 40 lakh. Increased liquidity for investors when they want to sell the house.

Alex Stephen, Chennai

28th October 2014

Hi Mr Pavan,
Disadvantages of affordable housing are like:-
Projects are in remote areas and social infrastructure in most of these areas may be non-existent. So rentals returns will be negligible as the projects are far away and the amenities are minimum.

Alex Stephen, Chennai

28th October 2014

Hi Mr Pavan ,
In Chennai , affordable housing projects are around 25-30 km away from city center. Major developers in Chennai having affordable housing project are TVS Housing, Marg Constructions , Annai Builders & VBHC. The main reason for rise in shortage in affordable housing on the supply side is lack of availability of Urban land , rising construction costs & regulatory issues while lack of access to home finance for low income groups are constraints on the demand side.

Srinivas , Chennai

31st October 2014

Hi All,
Several facilitators of affordable housing such as public authorities, international development organizations & private equity players have increased activity in this segment. Where as emergence of micro finance institutions focused on low-income housing has helped in improving buyer's access to housing finance.

Venu Gopal, Chennai

31st October 2014

@ Pavan,
In my point of view, now a days many well known reputed builders are constructing affordable houses across best localities in India. So that the middle class people & lower income people those who dream for an own home ,easily they are fulfilling there dream.

Priya Sharma, Chennai

31st October 2014

Hi Mr Kumar ,
In India real estate prices sky-rocketing in bigger cities, buying a house may be out of reach for the average middle class person. This is when affordable housing comes into picture. The cost generally looks very attractive to the home buyers but the distance can be a dampener. The trend of affordable housing is catching up in India and property developers like Tata Housing, Godrej Properties, Mahindra Life space developers and Shapoorji Pallonji group are now offering homes that can suit all budgets.

Shyam Sundar, Chennai

31st October 2014