Housing Scheme in Delhi for 1 Lakh affordable housing units to launch soon

Delhi NCRr is in its boom times as many government schemes are launching by government. It’s boom time for affordable housing. Now One lakh affordable housing units to be build under a new scheme are likely to be built in this segment in the next couple of years, with builders betting on a spurt in demand following sops announced by the government in this year’s Budget.

Supertech company  plans to launch 40,000 affordable housing units in NCR in the next few years. By 2020, the company will complete 25,000 units, Supertech chairman  – RK Arora. Along with this around 30,000 apartments in the next one year are also planned by Signature Global, another big player in the affordable housing segment,.Gaurson and Raheja Developer are planning to launch around 10,000 apartments each in NCR in the next couple of years.

Supertech’s Arora said the group has decided to carve out land from its existing land parcel on Yamuna Expressway, Noida Extension and Gurgaon to exclusively launch affordable housing projects.Arora said various measures like according infrastructure status and extending tax benefit under Section 80IB to affordable segments would enable developers to sell at very competitive prices.

 Signature Global’s MD Aggarwal said the sops announced in the Budget has completely changed the market dynamics, creating a very favourable ecosystem for affordable housing. There are incentives for builders, and also for buyers who can now get interest subsidies on home loan equivalent to a discount of Rs 2.40 lakh in capital value, over and above the tax benefit on interest payment.



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