Affordable Housing projects in Delhi NCR

Affordable Housing projects in Delhi NCR
Blog   

December 23rd, 2020

Affordable Housing projects in Delhi NCR

Delhi is home to affordable housing options for every type of income group. Suppose you are a single person without a family. In that case, you can surely afford to live in Delhi as there are many rental homes and affordable houses available here at reasonable prices. Renting out an apartment can be quite an expensive affair, and hence it is preferred to rent homes in central Delhi which fall in the middle of markets. The rent on such apartments is subsidized by the government, thus ensuring lower rentals. In some cases, these apartments also come with facilities like gyms and swimming pools.

 

Where to look for?

If you search for an affordable housing project in Delhi, Uttam Nagar should be on your priority list. It is the most prominent suburb in central Delhi and is famous for its commercial activities. Uttam Nagar is among those places in east Delhi that have gained importance in recent times, owing to the vast number of affordable housing projects. Most of the residential units available in Uttam Nagar come with necessary facilities, but the developer also provides some basic amenities. These apartments have a well-maintained network of roads, which make them very convenient to live in.

Around 50% of the people who commute to Delhi from other parts of the country stay in this capital. This means that a large chunk of the population here resides in areas bordering Delhi like Uttam Nagar. There are several reasons behind this area's popularity as the rent here is subsidized by the central government, which further ensures that the rents here are affordable. Almost every household here either consists of a single person or a small family of five or six members. Real estate developers in Delhi NCR are scattered everywhere, and you can get help.

 Other areas of Delhi that also boast of a good population include Greater Kailash, Karol Bagh, South Extension, Defence Colony, and Chanakya Puri. Various public housing apartments further enhance the availability of low-income housing in Delhi for the low-income group. These apartments' primary attraction is that they are located outside the main city centers and far from the city life's hustle and bustle. Some of these complexes also offer home loans, which help those looking to buy a house.

 

There are various criteria. 

The construction of public housing developments is done based on various criteria. While there are developments in all areas, the standards used for their development differ. One of the requirements is the per capita income limit. This limit is fixed and hence cannot be augmented, so the income levels do not change. One of the reasons for this is that the demand for housing always outstrips the supply. Hence, most of the time, flats available at these affordable prices do not have per capita income limits.

Another criterion used in determining an area median income housing scheme's location is the proximity to Delhi's political powerhouses. Most of these housing schemes are located around areas with large numbers of political powerhouses and industries. The political establishments offer subsidies and benefits to the ordinary people to encourage them to move to that particular area where the sector or industry is established. This enables the population to settle there permanently.

 

Conclusion 

The capital of India has always been known as the country's leading and most developed city. Property in Delhi NCR is costly. It attracts a large number of tourists, both from within the country and from abroad. It has a vast international airport, and a world-class transport system, besides being home to various business and industrial enterprises. This has led to the vast growth of Delhi's property market, both in the personal and commercial sectors. As a result of this, Delhi has emerged as one of the most important industrial centers in the entire country.

Besides being an important industrial and commercial hub, Delhi also offers housing options at affordable rates to suit every budget. People who want to purchase homes or apartments can check out available apartments in different parts of Delhi either individually or in blocks or ready to move flats in Indirapuram. One can also find out the details about the developers' various housing facilities and the types of apartments available with them. The presence of many new builders in the field has resulted in the availability of highly luxurious residential properties at affordable rents.