With this rapid urbanization, one of the biggest challenges will be providing affordable housing to city dwellers, especially the poor. Over a billion people around the world live in appalling conditions of urban slums lacking the benefits of adequate housing. In India alone, about 100 million persons live in slums and slum-like conditions without adequate basic facilities such as piped water, sanitation, schools, health, and so on.
From buyers to the sellers to the realtors and investors, everyone is pitching for affordable quality homes in India. Various Banks have also announced reduced rates for loans to the real estate developers for affordable housing projects in India. To cater to excessive unmet demand of low budget housing in India, The Planning Commission, RBI, The Finance Ministry and various Financial Institutions have extended full cooperation to the realtors to jointly undertake a series of measures for affordable housing in India.
Various builders in India have announced projects catering to the low budget housing in India with 1 & 2 BHK apartments projects targeting the Lower Income Groups and EWS (Economically Weaker Section) Categories as well as affordable 3 & 4 BHK flats for the Middle Income Groups. Renowned Builders & Developers like Ansals, DLF, Omaxe, BPTP, Unitech, Vatika Group, Raheja etc. have advertised projects under affordable housing in India.
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