Thursday 9 November 2017

GRAND TRIUMPH – “THE MILLENNIA” OVERSUBSCRIBED BY FOUR TIMES!!

Affordable Housing Projects in Gurgaon - Signature Global

Signature Global being one of the established names in affordable housing, today believes in the motto of “Har Parivar Ek Ghar”. It is a 100% RERA compliant company that has successfully launched 9 of their affordable housing projects in Gurugram. Their main focus is affordable housing so they are currently aiming at delivering around 1 lakh units till 2022 to support the endeavour of the respected Prime Minister of “Housing for all by 2022”.
Signature Global believes in transparency and assures timely execution of the projects within 3.5 years from the date of project conceptualization.
The Millennia Sector 37 D Gurgaon near Pataudi Road is their latest project which has been designed by the notable Architect Hafeez Contractor. The same project recently underwent a draw in the presence of Haryana officials and various applicants on 27th October 2017 at Corus Banquet Gurugram.
The Millennia includes 1448 housing units consisting of 1 bhk 2 bhk and 2 bhk housing units. Around 2,500 applicants gathered to participate in the draw whose application submission commenced on 25th June and got closed on 14th August 2017. The draw lasted less than 75 days as it got an overwhelming response of more than 5000 applications.
“We would like to cordially congratulate all the successful allottees of The Millenia. The people are now having ample options, as there are many affordable housing projects available for them. Going for a value-based property is still a better option as compared to the rental living. Considering these reasons, communities should make themselves aware of the ins and outs of the project while considering the current real estate scenario as this will increase their chances of opting the right property.” says Pradeep Aggarwal, Chairman, National Council on Affordable Housing, ASSOCHAM who is also the Co-founder & Chairman of Signature Global.
Value-based homes with less hassle is what everybody strives for.
Decent, affordable housing has been important to most of the families. The basic need of getting a shelter for the living is fulfilled by the same. The low-cost projects give an opportunity of spending a decent amount in all the other relevant segments of life. Even the reports suggest that children in stable housing tend to do better in school and are less likely to experience a disruption in their academics and career. India already has a housing shortage of 2 crores and the reason behind this being the lack of affordability factor in the properties. The affordable housing projects have the high rate of absorption as there is a lot of demand for the low-cost units. The affordable housing factor is going to benefit as the land cost is going to be lower in the areas where affordable housing has to take place. The developers should bring projects according to the need of buyers and investors. It’s quite clear that there are people who are still aspiring for own houses so the developers should work in the same direction to maintain a consistency in the market. According to the reports, 1.77 million people are still homeless in India and most of them are relying on the rented properties. The statistics clearly show that there is a high demand for housing units and preferably these housing units should be easily affordable by the majority. The demand for affordable housing projects is rapid says the industry experts. The government authorities are meeting frequently in order to eliminate the roadblocks that are being faced by the developers while executing such projects. Already the policymakers and the financial institutions have made enough policies and amendments in order to facilitate the Pradhan Mantri Awas Yojana scheme.

Tuesday 7 November 2017

ALL YOU NEED TO KNOW ABOUT AFFORDABLE HOUSING

Affordable Housing in Gurgaon
The much talked about segment of real estate has gained momentum speedily. As part of the initiative initiated by the Prime Minister to provide affordable housing to all, affordable housing projects have been a motive by the government to provide an own house to all the sections of the society so that nobody remains homeless. The Pradhan Mantri Awas Yojana was launched in June.  Affordable housing refers to the housing units that affordable by the section of society whose income is below the median household income. The price related to affordable housing will vary depending upon the regions. The affordable housing units for the metropolitan regions should have a capping area of 30 square meters and for non-metropolitans, the area should be 60 square meters.  Cities like Delhi, Mumbai, Kolkata, Chennai, Bangalore, Hyderabad, etc. fall under the metropolitan region and rest of the areas would lie under the later one.
The affordable housing projects have a high rate of absorption as there is a lot of demand for the low-cost units. The affordable housing factor is going to benefit as the land cost is going to be lower in the areas where affordable housing has to take place. The developers should bring projects according to the need of buyers and investors.  It’s quite clear that there are people who are still aspiring for own houses so the developers should work in the same direction to maintain a consistency in the market.  According to the reports, 1.77 million people are still homeless in India and most of them are relying on the rented properties.  The statistics clearly show that there is a high demand for housing units and preferably these housing units should be easily affordable by the majority. The demand for affordable housing projects is rapid says the industry experts. Approximately, 12,000 applications belonging to the middle and low-middle income home buyers have been processed by different banks for interest subsidy in just two months. This number may reach 50,000 by August says the Housing Ministry. The various initiatives taken by the financial institutions in the form of interest reduction on home loans are paving way for the aspirants striving to buy their first home. The enactment of GST has not only made the taxation process easier but has also introduced transparency. These enactments are altogether fostering the market and also encouraging people to invest.

AFFORDABLE HOUSING AS AN EMERGING INDUSTRY

As the reports can clearly show that the affordable housing has undeniably gained momentum.  It would be the next juncture for investment says industry experts and stakeholders. However, the responsibility of supplying affordable housing is initiated by the government, the entire industry of financial institutions and developers are coming to the forefront to make the government’s “Pradhan Mantri Awas Yojna”   accomplish. Affordable housing projects have become a new interest for the developers as they know it’s attracting more homebuyers.  Due to the governmental initiatives, the concept of affordable housing has become an admirable concept. The concept is still growing; the goal to provide homes to all still prevails. The push from the government is encouraging the private sector participation to this concept.
According to the reports of officials belonging to the financial firms, corporation’s January loan applications rose 21% over December. February witnessed 24% haul up, and March was 44% more than the previous month. It seems that the affordable housing is not just about providing affordable homes to the lower-income strata of society. Through the newly introduced policies in certain segments, we can assume that it is having a direct connection with the nation’s economy and the whole of the real estate climate. The recent push for this project is commendable but the lack of availability of land is a major concern. The developers are in need of land and the unused area can easily gratify their needs. The major concern of is to execute the “PradhanMantriAwasYojna” at a faster pace. Land availability is currently the major challenge for the developers across India.
“According to me, the quick execution and policy change, the sector will give rise to new parameters and housing styles.  This will also lead the financial institutions to work on lower thresholds which will make new inroads for the home-buyers.  The increase in demand of affordable projects is seen on the real estate portals clearly by the experts. It’s a positive sign for us as we have been focusing on a similar concept since the beginning” says  Pradeep Aggarwal, Chairman, National Council on Affordable Housing, ASSOCHAM who is also the Co-founder & Chairman of Signature Global.