More than 1 lakh Affordable Housing Units being planned by Builders in NCR
Affordable housing is witnessing a boom in the country. More than 1 lakh apartments are likely to be built in the Delhi-NCR region alone within the next couple of years. Builders are betting on increasing demand following sops announced by the government in this year’s budget.
Leading names like Signature Global, Supertech, Gaursons, BDI, Raheja Developers, Tulip and others are planning to launch residential projects in this category.
Within the next few years, Supertech has plans of launching 40,000 affordable housing units in NCR and by 2020, the company will complete 25,000, said chairman of Supertech, R K Arora.
Another big player, Signature Global has plans of launching near about 30,000 apartments in the next 1 year. Pradeep Aggarwal, promoter and managing director of the company said that, already 7,500 apartments have been launched and the company is the process of launching another 20,000 old apartments in Delhi-NCR by the end of the next financial year.
Raheja Developer and Gaurson are also planning to launch 10,000 apartments each in NCR in the next couple of years.
On top of that, many companies are in the process of converting their existing housing projects in various places like Raj Nagar Extension, Greater Noida, Tronica City, Yamuna Expressway, Gurgaon, Faridabad, Bhiwadi, Daruhera and Bahadurgarh into affordable ones by capping the maximum unit size at 643 square feet. Depending on the size of the apartment and area, developers are working to keep the price range between Rs 15 lakh to Rs 35 lakh.
