The demand for affordable property has increased phenomenally in Noida, Gr. Noida, Noida Extension, and other parts from half a decade. There has been a significant rise in people enrolling for Pradhan Mantri Awas Yojna (PMAY) due to the various incentives that the scheme is offering. The city has become one hub for uplifting the concept of affordable housing as people from different parts of the country are commuting and settling in Noida & Greater Noida. 

There has been a 35% increase in the supply of houses in recent years and this is being one of the major reasons adding to Affordable Housing Property in Noida. Let’s unveil some advantages that affordable housing offers to its investors in finding a property in Noida. 

In light of Government Initiatives

Union budget 2021-22 has been one of the ice-breaking factors in bringing the concept of affordable housing into the limelight. Advantages like saving up to 1.5 Lakh rupees on interest paid by the investors till March 31, 2022. Also, the tax relief offered by the Government of India was a plus in surging the demand for housing in the real estate sector. 

Low cost is Leveraging the buying capacity

The government has capped certain projects of the developers to provoke the buyers & investors in buying houses under the affordable housing scheme. This ensures leveraging the home buying capacity at lower prices in Noida by that can be for a shorter duration but generate great revenues through it being one of the best cities for affordable housing. 

Demand & supply are playing & slaying

With this plethora of affordable housing schemes, more investors & homebuyers are looking out for such Projects in Noida. Thus, the demand for affordable housing is increasing and but supply is limited to an extent that ends up playing & slaying around different rates offered by the developers. Adding to that, the Developers of Noida are now focusing more on the mid-range and affordable housing projects than on the luxury living projects. 

Other Perks with Affordable Housing

The affordable housing projects are already offered at low prices plus some of them offer assured rentals by the developers in order to promote the project. The benefit that can be reaped herewith Affordable Projects in Noida unlike the luxury projects, the affordable housing projects do not have any fluctuating value and thus ensure definite returns. And Noida being the hub for the rise in housing accommodation has the best offers to show to the buyers & investors.

The Wrap-up

To put an end to the affordable housing scheme, Noida is one of the best cities which works as a great backbone to the affordable housing concept. Not only it offers the best prices but being in Noida has added the aforementioned points to the valuation of the property. Perhaps, depending on your minimalist requirements & offerings by the developers, the city has a lot to do with it and is doing great in terms of leveraging the Affordable Housing in Noida & India.