One of the most significant reasons for this, among many other noteworthy characteristics, is that because of its long-term appreciation and value gains, this housing the segment is preferred by financial investors and low-income people as a safer investment alternative.
Already, 35% of the overall housing market for affordable residential units is accounted for by the major cities.
Delhi is facing huge demands in residential properties. Real estate experts are of the opinion, that 2BHK flats in Dwarka are the most in-demand of all. There is a tonne of housing options in these flats because developers are developing more and more buildings like these and providing top-notch amenities and features at reasonable pricing.
In this article below, we shall explore some of the factors that play a crucial role in this massive growth.
Factors Responsible for the Growth in Demand:
1. Government Initiatives
The affordable housing segment has received immense support from the Union Budget 2022-2023.
2. Low-Cost Purchase and High-Value Asset
Property investors and house purchasers now have the chance to buy properties at a considerably lower price, which further ensures the possibility of price appreciation over a short period of time. Several state governments have reduced the per-square-foot rate in the affordable housing segment.
3. High Demand- Less Supply
Despite all the illusions surrounding inexpensive housing, including the notion that it would not be a profitable investment, this home type is particularly in high demand given the real estate market at the moment.
But a number of top developers and builders are now supporting this demand and have shifted their attention away from expensive projects and into more reasonably priced mid-range housing sectors.
4. Increased Capital Appreciation and Rent Assurance
Home buyers and real estate investors now have the chance to buy properties at a low cost with a good resale potential thanks to affordable housing.
Such properties are generating better profits than luxurious projects, and that too in a shorter amount of time, as a result of rising demand and high occupancy rates.
For buying or renting property in Delhi, contact Bhatia associates