It was touted as a realization of the ultimate middle class dream houses that fit the pocket. Just that it went bust. Months after developers flooded the market with housing projects tagged as ‘ affordable, there seem to be very few takers. The reason: the actual area of many of these flats is far less than usual. Others are being rejected because of poor location.
Said Renu Chaddha (name changed), who had bought a flat in an affordable housing project that was launched in Faridabad earlier this year, and is looking for another property to invest in. ‘At that time, only a few developers had launched their projects. All of them had good locations, so my husband and I decided to invest. It was only around Rs 20 lakh.’ Six months down the line, Chaddha says that the newlylaunched housing projects have left her without any inclination to buy.
The usual room specifications are 1200-1400 sq.ft. for a two bedroom flat. But most of the projects coming out now and being marketed as affordable housing measure between 800-1 ,000 sq.ft,’ admitted Pradeep Mishra of Sainik Estates, a local brokering firm.
More : economictimes.indiatimes.com
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