Low-Cost Housing: Future of Indian Realty Sector

Industry experts are closely monitoring the various attempts by developers across the nation to revive the realty sector. There have been freebies, huge discounts or attractive payment options. Yet, the end result was not sufficiently satisfactory. There is still room for improvement and this is widely agreed to be the perfect time for implementing effective strategies.

The city of Bhubaneswar recently came across a viable strategy of focusing more on low-cost houses. The prices could even be below 6 lakhs, and attracted huge numbers of takers.

A critical concern is the unsold properties across the nation, and with more and more affordable housing being built, this could be corrected to a great extent.

One among the recent surveys pointed at the fact that the nation is in need  of more number of budget housing than luxurious projects.

The state of Odisha seems to have realized it and in a recent exhibition by Credai, several units were sold off for around five lakhs.

Several high-end properties in the city are lying unsold, but there is hope that this is not going to be the case with low-cost properties, the maximum price for which is around 20 lakhs.

There are options as well, the expo had 1 BHK at the above price, whereas 2 bhk came in the range of 13 to 20 lakhs.

The builders are planning to continue this trend by offering low cost housing in this range in the coming years. Several such projects are being developed across the city.

This is the first time that huge numbers of such flats are being offered, and is a timely move that could have long term impacts.

This move by the state is an appreciable move, and could very well be adopted by other states as well.

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