Why are builders venturing into the affordable housing segment?
In Mumbai, the prices of homes are sky rising day by day. Thanks to the ever-increasing demand for accommodation, the real estate market is booming. The population in this city is huge and there is a lot of diversity in terms of people that are living here. Mumbai is a city of dreams and most of the population here is that of working class folks. The city provides ample opportunity to talented individuals for making a living. Every Mumbaikar aim to own a property or have their own little space in this crowded city. Hence, catering to the need of the people, real estate developers are moving towards taking necessary steps to make homes more affordable to everyone.
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1 BHK and even 1RK system is popular among the working class. Here, owning a home is a sense of pride and a really big deal. Also, the government is taking necessary steps to make accommodation a less of a problem for the city dwellers. With several schemes that the government is undertaking, the real estate market is rightly encouraged. The taxation is also a bit transparent and with a revolution like RERA – Real Estate Regulation Act, there is less scope for fraud and loot of innocent people. This schemes and policies have indeed given a boost to the real estate market and the builders have ventured into the affordable housing segment.
There is a huge market available in the affordable housing segment. Majority of the working population fall into this category. So, builders are trying innovative strategies to attract this brackets with lucrative offers. Now, the intelligent homes are being constructed that offer more space in the framed set of area. Now, with intelligent construction, even 1 BHK flats are more spacious and have maximum space utilization. International style architecture is another aspect that attracts more buyers. The additional amenities provided by the developers along with eco-friendly properties that have better connectivity, are the factors that make a common man obliged. The cost segment is affordable, and the facilities are a huge bonus. Also, with interesting home loan schemes, an average man can now easily consider buying a property in this big city of dreams, opening up an avenue for the real estate developers rightly!
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