Popular Areas In Delhi NCR With Upcoming Affordable Housing Projects
Several renowned developers and builders are showing interest in the development of affordable housing in different parts of India after the constant efforts and amendments in “Housing for All” or Pradhan Mantri Awas Yojana (PMAY) from the Government’s end. Delhi NCR has been identified as a hub with maximum numbers of affordable housing units available at different stages of construction. A recent industry report states that NCR alone account’s for around 30 percent of the overall affordable housing supply across the country during 2017-18. The most popular areas in NCR with several upcoming affordable housing options are Sohna (Gurgaon), Raj Nagar Extension (Ghaziabad), Yamuna Expressway, Greater Noida and Bhiwadi.
Goods and Services Tax (GST) slashed down on affordable housing has lured both builders and buyers and so many builders have announced their projects in Delhi NCR in the recent past. More low-cost homes will be launched in Delhi NCR in the coming years. Some of the major upcoming affordable housing projects announced recently are listed below.
Two affordable housing projects launched in Ghaziabad and Greater Noida is planned to be completed in next three years with an investment of Rs 1000 Cr. It will comprise of 7000 housing units priced between Rs 15 Lakh to Rs 25 Lakh. About 25 acres of land on Yamuna Expressway, Greater Noida and 8 acres in the Crossing Republic Township in Ghaziabad been finalised for these projects.
Out of these 7000 units, 200 units would be for Economically Weaker Section (EWS) and would cost around Rs 4.5 Lakh which will be given to the state government and allotted to the selected beneficiaries.
Another 1000 affordable housing units have been planned at Raj Nagar Extension in Ghaziabad with an investment of Rs 300 Cr, 4.5 acres of land has been finalised for the project and about 300 units would be booked for EWS families.
Around 35,000 flats under different stages of construction are coming up in Gurgaon under State’s affordable housing scheme. One single project offers 10,000 low-cost houses under Haryana Affordable Housing Scheme and the same builder will offer another 10,000 units across Haryana and Uttar Pradesh by the year 2020. And by the end of 2022 will develop over 1,00,000 affordable units across the country including 50,000 in Haryana and 25,000 in Raj Nagar Extension (Uttar Pradesh).
Source Link- https://www.99acres.com/