Owning a house no longer a dream thanks to affordable housing scheme

Owning a house no longer a dream thanks to affordable housing scheme

Affordable housing scheme has helped realized the dreams of lakhs of people who had been toiling hard for years to buy their own house. The slowdown in the real estate market has also brightened the buyer’s faces. Everyone dreams about a house of his own where he can dwell in peace and happiness with his family. Three to four years ago the rates of property were skyrocketing. In such circumstances, a salaried general working class person could only dream of buying a good house at a reasonable price. But thanks to the affordable housing scheme, new affordable houses, which were meant for the lower economic groups of the society, were built to house them.

Delhi’s Rohit Sharma, who works for a Noida based company, has been living with his wife and two kids in a rented accommodation for the last few years. After spending on house expenditure, education for kids, and the house rent, he was unable to save much for buying a good house. Rohit too thought of buying a 2 BHK flat but his budget constrained him to 15-20 lakhs. For the last five years buying a 2 BHK flat in Noida in 15-20 lakhs was next to impossible but the arrival of the affordable housing scheme has helped matters and it has become very feasible now. Recently Rohit has booked a flat under the affordable housing scheme in 18 lakhs and he is expecting to obtain possession by the next year.

It is the vision and dream of the Modi Govt. that the citizens of our country have their own houses by the end of 2022. To facilitate and promote this vision, the govt. is trying to encourage builders who are launching projects that fall under the affordable housing scheme. Under the affordable housing scheme, the target is to make houses that cost between 10 lakhs to 30 lakhs, available to the lower and middle-income groups. Under this scheme, home loans are also being made available at cheaper rates. This led to the rise in demand for houses/flats falling under the price band of 10 lakhs to 30 lakhs. As a result, builders are launching projects mostly falling under the affordable housing scheme.

Projects are being launched under the affordable housing scheme in states like Punjab, Rajasthan, U.P., Haryana etc. State governments are also giving all possible help to the builders. The affordable housing scheme announced for the lower and middle-income group of the society keeps comfortable habitat as its vision and this also includes the objective of providing quality housing structures with quality living standards to the urban populace especially the urban lower and middle-income group people. The development of residential units is being done under the affordable housing scheme as per group housing as well as row housing arrangements.

Meanwhile under the Pradhanmantri Aawaas Yojna subsidy and monetary concession to the tune of 2.5 lakhs is also being offered to the people so that maximum numbers of people are able to realize their dream of owning a house. At the same time, the banks have heeded the call by P.M. Modi to reduce the lending rates to embolden thepoor and economically weaker sections of society to come forward and avail the loan services and a special lending system is being brought for women which have a lower rate of lending. If you too were thinking of buying a house and the budget was hampering you, then the affordable housing scheme can help you bring your dreams come true.

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