Affordable Housing Projects

Shortage of low-cost homes? Affordable housing a Rs 67 lakh cr opportunity

The projected demand for 30.7 million affordable housing units by 2030 presents a massive opportunity to address one of the country's most pressing social challenges

Housing prices up by 11% in 8 cities; Delhi-NCR highest at 32% rise: Report

India's eight major cities saw an average 11 per cent increase in housing prices annually during the September quarter on strong demand, with Delhi-NCR witnessing the highest appreciation at 32 per cent, according to a report. Realtors' apex body CREDAI, real estate consultant Colliers and data analytic firm Liases Foras on Monday released their joint 'Housing Price-Tracker Report Q3 2024'. "Average housing prices across the top eight markets in India rose 11 per cent Y-o-Y (year-on-year) at Rs 11,000 per sq ft during Q3 (July-September) 2024, led by sturdy demand and positive market sentiments," the report said. The average housing prices have increased for the 15th consecutive quarter since 2021. All the eight major cities saw an annual increase in housing prices, the consultant said. Delhi-NCR witnessed the highest rise at 32 per cent Y-o-Y, followed by Bengaluru at 24 per cent Y-o-Y rise during the July-September period. According to the data, the average housing prices in .

Crisis brewing? BS BFSI experts raise alarm on affordable housing supply

At the BFSI Insight Summit, industry leaders discuss challenges facing affordable housing, citing high demand but developers' reluctance due to costs, approvals, and low profits

Centre sanctioned 7,000 houses for internally displaced people: Manipur CM

Manipur Chief Minister N Biren Singh on Wednesday said the Centre has sanctioned the construction of 7,000 houses for internally displaced and violence-hit people in the state. Talking to reporters at the CM Secretariat, he expressed gratitude to the Prime Minister Narendra Modi, Home Minister Amit Shah and other leaders for their concern regarding the situation in ethnic strife-torn state. "I thank the PM, HM and other leaders as they are seriously concerned about the situation in the state. Recently, the Centre sanctioned the construction of about 7,000 houses in the state for the internally displaced persons. It will help them to shift from the different schools and colleges where they are currently sheltered. Proposals for another 2,000 houses for internally displaced persons are in the process," he told reporters. Detailing the distribution of housing, the CM said, "1,015 houses will be built in Bishnupur, 1,331 in Churachandpur, 1,217 in Kakching, 511 in Chandel, 1,813 in ...

Shoddy location, poor design: 53% unhappy with affordable housing options

The top three reasons for this disenchantment with the currently available affordable housing supply are bad project location accessibility, questionable construction quality and poor design, and cons

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Signature Global to launch housing projects worth Rs 13k cr by March: CMD

Realty firm Signature Global will launch multiple housing projects with a revenue potential of around Rs 13,000 crore by March next year to expand business and encash strong demand. Signature Global Chairman Pradeep Kumar Aggarwal said, "We have launched one housing project worth around Rs 3,000 crore in the first quarter of 2024-25. We have a strong launch pipeline for the remaining three quarters". "We are looking at launching more housing projects in Gurugram, Manesar and Sohna belt. These upcoming projects will have a revenue potential of around Rs 13,000 crore," he added. Gurugram-based Signature Global, which got listed on the stock exchanges last year, is one of the leading real estate developers in the country. Asked about the execution of projects, Aggarwal said the company is focusing a lot on the timely delivery of projects. "We will invest around Rs 2,500 crore this fiscal on the construction activities," he said. On sales performance, Aggarwal expressed confidence th

Affordable flats launches drop 21% annually in April-Jun in top 7 cities

New supply of affordable apartments -- costing below Rs 50 lakh -- declined 21 per cent in the April-June period across seven major cities as builders are launching more premium flats, according to JLL India. Real estate consultant JLL India on Friday released data for housing market of major seven cities, showing a 5 per cent increase in fresh supply of apartments to 1,59,455 units during April-June 2024 from 151,207 units in the year-ago period. The data includes only apartments. Rowhouses, villas, and plotted developments have been excluded from the analysis. Of the total new supply in the June quarter, the launches of affaordable flats stood at 13,277 units, a fall of 21 per cent from 16,728 units in the same period last year. The launches of flats, each costing Rs 50 lakh to Rs 1 crore, declined 14 per cent to 47,930 units from 55,701 units. In the Rs 1-3 crore price bracket, the new supply grew 3 per cent to 69,312 units from 67,119 units. The launches of apartments, each p

Home prices to rise steadily, affordable housing to be scarce: Poll

Economic growth in India, Asia's third-largest economy is expected to continue outpacing its major peers

Housing prices up 83% along Dwarka Expressway; may rise further: Experts

Average housing prices in projects along Dwarka Expressway in Gurugram have risen 83 per cent in the last 10 years and are likely to appreciate further with the opening of a 19 km stretch, according to real estate experts. Earlier this month, the Prime Minister inaugurated the 19 km stretch in Gurugram out of a total 29 km long Dwarka Expressway. According to data compiled by real estate consultant Anarock, around 53,000 housing units were launched between 2013 and 2023, and out of that over 80 per cent have already been sold. The average prices in the primary (first sale) residential market along Dwarka Expressway have surged to Rs 8,300 per square feet (sq ft) last year from Rs 4,530 per sq ft in 2013. Commenting on the outlook of real estate along Dwarka Expressway, Signature Global Chairman Pradeep Aggarwal noted that Dwarka Expressway has emerged as the epicenter of real estate growth in the Delhi-NCR region. He expects demand-supply to remain strong on Dwarka Expressway, ..

L&T Construction wins contracts for housing, hotel projects in India, Oman

L&T will construct Economically Weaker Section housing, 14 towers and related infrastructure works in Navi Mumbai over a period of 42 months. It bagged the project from the Maharashtra government

DDA flats 2023: All Dwarka units sold out in the first few hours of booking

Under the DDA scheme, 1-BHK flats are on offer in Narela, Siraspur, Rohini, and Loknayak Puram, and 2-BHK flats are in Narela and Dwarka. 3-BHK flats are located in Jasola

Puravankara forays into Mumbai with Rs 450-cr ultra-luxury project

Puravankara has already launched two luxury projects under its World Home Collection brand in Bengaluru and Chennai

Budget 2021: Govt extends benefits on affordable housing till March 2022

The upper limit is capped at Rs 45 lakh for claiming this deduction.

Sitharaman gives further push to affordable housing projects in Budget 2021

Sitharaman proposed to extend the Rs 1.5 lakh benefit on interest paid on affordable housing loans by one year to March 31, 2022. Last year this was extended by a year to March 2021 from March 2020

IFC and its fund to invest $76 mn in Puravankara affordable housing

Two of the four projects being funded are planned in Kochi and Bengaluru, with saleable area of 4.5 mn sq ft. About 4,000 housing units will be built in next 5-7 seven years

Property developers give up profit margins for sales volume: Analysts

Margins in residential projects have come down from 20-30 per cent last year to 8 to 10 per cent in today's market

LIC Housing Finance biz back to pre-Covid levels: MD Siddhartha Mohanty

The business done by the company in September is not only better than the previous year but also the best for the company in the same period, he said.

Budget 2020: FM Sitharaman's sops to boost affordable housing projects

Rs 1.5 lakh benefit on interest paid on affordable housing loans extended by a year; Tax holiday for developers; industry hails initiatives

State Bank to provide guarantee to homebuyers on completion of projects

This cover will be for SBI funded residential projects and those availing home loan for SBI