As on December 31, the Prime Minister announced new rules and regulations in regard to affordable housing throughout the nation which had a deep effect in favour of its buyers. Prime Minister announced a slew of rebates on home loans under the Pradhan Mantri Awas Yojana.
Affordable housing will give the result of the extra cushion provided by the central government’s recent decision to give interest rate rebate on home loans for buyers. Also, it is a great time ahead for the real estate sector with most banks reducing home loan rates by up to 90 basis points ahead of the Union Budget on February 1. Homebuyers have begun to plan property purchase around this time, as they now have more clarity about their finances in the new year that begins on April 1.
With HUDA already coming up with its own Haryana Affordable Housing Policy in Gurugram, the demand for affordable housing projects has suddenly shot up in this area.
Many HUDA based develepors have promised to increase residential property in Gurgaon and that too in affordable rates for its consumers.
Homebuyers have now completely shifted their focus on affordable housing rather than living on rent. High end individuals are planning to buy Plots in Gurgaon to afford an easy luxury lifestyle.