Ahmedabad developers set to provide affordable housing

By Pallavii Pitale

A group of developers in Ahmedabad are focussing on providing affordable housing within the range of 7 lakhs to 12 lakhs for the people having income between Rs.10,000  to Rs.15,000 a month and can afford to take bank loans up to Rs 3- 5 lakh at prevailing rates.

Ahmedabad, with six such affordable housing schemes coming up in and around the city, is now next to Mumbai which has ten such schemes for people with low or medium income group. These schemes are enlisted by NHB – The National Housing Bank of India. Cities like Pune and Nagpur in Maharashtra, Bhiwadi in Rajasthan and Bangalore has two such projects respectively.

The trend of developing affordable housing is increasing in India. There is a huge demand for affordable housing in the country. Though the profit margins are less in such projects, the volumes are huge, so many builders are now coming forward for development of such housing schemes.