Over 65% of housing units in the newly launched RCN are lower prices Rs 30 lakh to buyers, and it is ready for them. ET Realty reports
Affordable housing is the new mantra in the real estate sector and increased the quotient of the affordability of users of the middle class end in their quest for their own sweet home. The decline in interest rates around 9.5% on loans up to Rs 30 lakh has added to this factor.
A survey by DTZ World Realty Company research, affordable housing for less than Rs 30 lakh have shown a strong demand for most newly launched units, over the last six months, recording the absorption of about 30-50%.
The survey said 29,367 units residential launched during the period, 82% or 24,118 units have been the price of around Rs 1500 to Rs 3000 per sq ft in the region National Capital Delhi. According to DTZ, this makes an average dwelling unit of approximately 1,000 sq ft costing less than Rs 30 lakh, mounting budget the middle-income buyer. To be more precise, DTZ said more than 65% of the newly launched residential units are lower prices to Rs 30 lakh.
The main reason behind the launch of so many units in the price range of Rs 30 lakh is the very strong demand in the "budget" segment. This is clearly stated in the sale of flats has recently launched in Noida, Gurgaon and Faridabad by JP Green, Mahagun, Gaursons, Assotech, Supertech, Purvanchal and BPTP. In some cases, entire projects have been sold within a couple of days – and now developer even considering the allocation of apartments to applicants through a lottery system, as the number of candidates are almost double the number of apartments.
There is a huge rush to href = "http://www.zameen-zaidad.com/"> buy homes by people of the middle class, who until six months ago found it almost impossible to do. However, the research firm said the homes are affordable to come with riders that each prospective buyer should take note. Not only the average size of housing units was decreased in the first half of 2009, compared to the size of the units launched a year ago, the benefits provided by developers have also been reduced.
For units of 2 BHK, size, it has come down 14% – from 1080 sq ft. For 1 – and 3 BHK units, the size has decreased by 5% and 12% – to 720 m² and 1493 m² field, respectively.
In the segment of the budget, only the basic amenities like parking, security, power backup, and elevators for high rise apartments are provided. In many cases, the same amenities as swimming pools and a fitness center, which became one of common features in the condominium being developed for the last five years are not provided. Therefore, while selecting an apartment, a buyer should be clear what he buys.
The developers have again shifted their attention in development floors independent. The report indicates that the developers have indicated a preference for the construction of independent floors in units of low-rise homes and apartments of less than 1,000 square feet in tall buildings because of the advantage of cost they offer. According to the report, over the last six months, 28% of units were launched in the form of each floor in the housing of low height, compared to only two projects of villas, which have been launched. However, the buyer should check before buying, because half independent projects floor does not even provide power backup.
Otherwise, in the condominium price affordable apartments, housing density is higher than in upscale apartments. This will certainly put additional pressure on the common area. But still, the price they offered is certainly good value for money.
Courtesy: – ET DT: – 10-07-09
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