‘Affordable’ as a principle is dependent on a person’s financial capacity, demand-supply dynamics, city of thought and real estate values, which makes the meaning of “affordable housing” very subjective.
Nowadays, various socio-economic facts such as location, price, household income, employment opportunities, size of dwelling units, etc., play an important role in defining affordable housing. Generally, affordable housing is targeted towards certain segments of society, whose income is equal to income or much lower than middle income.
Here, we have chosen the three best cities, offering a wide range of very affordable housing schemes that promise healthy returns and future capital appreciation.
Best Factors to Know about the Best Cities with Affordable Housing
Hyderabad
After a drawn-out droop because of political agitation, the land area in Hyderabad is back in the retribution. The government of Telangana State has actualized various pro-active measures to pull in local just as global ventures to Hyderabad.
The most noteworthy advance is quick-paced improvements, for example, making framework offices and better network through the Metro, SRDP, MMTS, and so on that have improved the general climate of working business in the state. Thus, you can choose it as the best city with affordable housing.
NCR
NCR is a huge region covering the regions of Haryana, Rajasthan and Uttar Pradesh. Due to the immense space under inclusion, there are various pockets throughout the NCR where affordable homes (estimated not to exceed Rs 40 lakh) are accessible.
The land market of NCR has re-arranged the changing economic conditions. According to the investigation, the share of affordable segment launches has increased from twenty percent in 2012 to seventy percent in 2017 (up to Q3).
Nowadays, some Affordable Housing markets in NCR are as follows:
Affordable Markets in NCR
- Bhiwadi- Rajasthan
- Yamuna Expressway- Uttar Pradesh
- Greater Noida West- Uttar Pradesh
- Rajnagar Extension- Ghaziabad, Uttar Pradesh
- Sohna- Near Gurugram, Harayana
Ahmedabad
Ahmedabad is one of the largest future and upcoming markets for India’s most affordable housing segment. For the city of Ahmedabad, things are going in the best and right direction with the entrepreneurial nature of the population, stable government, bullet train project and a large number of corporate players investing in the state.
This Ahmedabad city itself is a very economical city, priced at Rs 3200 per square foot. Furthermore, the city of Ahmedabad is a very convenient city in India with the best infrastructure and connectivity with 2 ring roads and one of the first few functional BRTS (Bus Rapid Transit System).