The policy makers also, must bring in policies to control the cost of construction. An incentive offered in state can reduce the supply & increase the cost of labour in another or the sudden alter in owner regarding the use of groundwater can hike up the construction cost.
Housing policies for affordable housing will be the driver of reviving growth in the real estate sector, a senior government official said today. Despite the visible benefits, the housing sector is facing myriad challenges in terms of regulatory and policy owner challenges, Ministry of Housing and Urban Poverty Alleviation.
Government policies for affordable housing will be the key enabler for the reviving growth in actual estate in National Capital Region. The real estate sector is the growth engine of the Indian economy and the economic contribution of the sector is projected to double by 2025.Delhi NCR markets are currently undergoing a trough phase in the actual estate market cycle which also helps in reviving the growth in terms of actual estate.
Delhi NCR represents around 55 percent of housing market. All NCR states are beautiful investments destinations for the actual estate. To discard the shortage of housing sector, not only private sectors, but also lots of policies and efficient surface transport are necessary. The policy makers also, must bring in policies to control the cost of construction. An incentive offered in state can reduce the supply & increase the cost of labour in another or the sudden alter in owner regarding the use of groundwater can hike up the construction cost. Any such increase in cost ultimately gets loaded on to the cost of affordable housing obtainable to its aspirant.
The continuous launch of projects in these regions is testimony to the fact that the developers & the users have realized the importance of these regions being fully developed & habituated by 2017. More or less, 2,50,000 houses are expected to be prepared for occupancy, fulfilling the long-cherished dreams of millions of home buyers with excellent infrastructure, connectivity & other well laid amenities. We are of the view that the government shall also stabilize the home loan rate of interest to cater to the affordable housing needsof the home seekers. They exhort & advise the buyers to select these areas as the prices are still affordable. This goes without saying that as per the new land acquisition bill there will be a shortage of cheap land parcels in the future.
Many aspirants, looking to own a house, are in search of such housing. If affordable housing shall be promoted, the buyers will start living in their dream homes.