Affordable and mid-segment housing to bounce back post-COVID-19
Among the leading projects in Punjab is Hampton Homes on Ludhiana-Chandigarh Highway
Ludhiana: Post Covid-19 affordable housing is going to be a great success according to various experts & captains of Industry. With slow down in job creations if anyone can buy house it will be more in affordable category. With Government giving interest subsidy under PMAY scheme affordable housing becomes more attractive.
Affordable Housing starting 600 sqft onwards will be in huge demand as people would like to have own home rather than sharing keeping in view Social Distancing. Also, people working from home will need independent flats having minimal disturbance and at the same time affordable.
Banks being flush with funds would like to finance lesser ticketed homes to avoid risk. Also, they can offer better rate of interest on Affordable Housing. With having extended CLSS (Credit Linked Subsidy Scheme) by Government Affordable Housing becomes more attractive.
HDFC chairman Deepak Parekh exuded optimism that the slowdown, driven by lower consumption, is "temporary" in nature as there is adequate demand for assets across the country specially in Affordable Housing. There remains adequate demand for affordable housing across the country, which is supported by the government flagship credit-linked subsidy scheme and incentives provided to developers to increase the supply of affordable homes.
Among the leading projects in Punjab is Hampton Homes on Ludhiana-Chandigarh Highway. Full-fledged construction is going on at the project after taking all the permissions from Administration. All Covid safety measures are being taken while labour is working on the project. Sales have started again, and delivery is expected well on time in spite of Covid delays. 6 Towers with 2 Bedroom Flats are above Ground Level. Very soon additional towers will be under construction having 3 Bedroom flats.