Affordable Housing Defined
By Mr. Paras Gundecha, Chairman of Gundecha Builder
Affordable Housing means House for the Lowest Income Group who wants to live a life in a house respectfully with all the basic Amenities.
Affordable House is the need of people who are earning less & at the same time they play very important role in our society infact their contribution is important in the growth of our economy as well as smooth & comfortable functioning of our society. They live in either slums or chawl type Houses where basic amenities such as water, sanitation, drainage, electricity etc. are not sufficient.
At the same time many of them have taken good education & taken up respectable jobs hence started earning better, therefore they are looking out for House having above basic amenities even if it may be far from their working place. Considering the need of this Group of our society many Developers have launched Townships of Affordable Housing in the extended Suburbs of Mumbai since the land rates in that area are much lower compare to the Mumbai city.
The land rates in Mumbai city are very high, Infact high property rates in the city are because of the exorbitant rates of the land available.
First thing Affordable House & Apartments available in Mumbai city are two different segments. People in the need of Affordable House cannot afford House in the city & the people looking out for the Houses in the city would not like to go far from the main city.
Secondly there is a constant shortage of supply for Residential Properties compared to the demand in most of the locations in the Mumbai.
Looking at the above reasons, Affordable Housing Project in the extended suburbs can’t have any impact over the prices of the project in the Mumbai city, since both are catering the different segment of customers.
have you seen the way in which builders are selling their flats.first of all who will go to extended suberb which means beyond borivli.have you seen the transportaion facility.power,water problems.more than 20 years from now i am hereing there will be 4 track train.this is milibhagat of buliders lobby & vested interest politicians.they don’t want this to happen.then price will cool down.they don’t want price to come down at any cost.societies in western suberbs are more than 25 to 40 yers old.litigations are going on for years.builders watn to make a loot.vested interest groups & buliders not allowing the conveynce rule to pass.so artificial scarcity to suberbs and people are demanding sky rocketing prices of flats rs2500 in 2005 to 2006 to rs 10000 rs 2009-10 for the same dilapidated buildings 25 to 40 years,reason being every single builder has given redevelopment letter to the society saying 25 % to 50 % more.but boss practically how many societies have conveyance.this is just a gimmik.there will be out of 100 hardly 2-3 societies are ready.Even legend person like deepak parekh in in quote said that because of politicians & builders milibhagat prices in mumbai suberbs are sky rocketing.for 3500 mhada lottery 13 lacs application.see the demand.but builders want mind giving investor staying outside.foreign institutional investor giving full building at30% to 40% discount.boss they don’t want to give this discount to end user.don’t even talk rubbish about affordable housing in mumbai.post 1990 what was the situation for 14 years everyone knows.it is gora who is allowed to invest to make profit that 10000 rs sq.ft flat will become rs20000 sq ft in 2-3 years in suberbs.they are not here to stay.post lehman brother crisis have you seen prices of unitech,dlf,parsvnath.In india in mumbai this lobby is so powerfull, they don’t want to reduce the prices.centre & state doing nothing.what is the significant development in mumbai.you don’t have proper drinking water,but you have ample bisleri or mineral water.boss somtimes you will have to pay for taking breath for air in mumbai.Mr. Paras Gundecha, Chairman of Gundecha Builder aap fokat me advice mat do at least any builder in mumbai.koi dhula hua nahi hai,thik hey.global meltdown abhi eurozone me hogi aur aap sab ki band bajegi.at least in commercial zone everything is ended.now turn for residential segment.you guys will cry.