Affordable Housing Projects

Different government agencies have defined affordable housing in accordance with their understanding. Affordable Housing refers to low-cost houses for Low Income Groups (LIG) or Economically Weaker Sections (EWS) of society. The current housing deficit in India amounts to 19 million houses, which, if not addressed urgently, will double to 38 million houses after a decade or so.

95% of this total deficit is around the EWS and LIG classes, which puts the figure at a whopping 18 million units in this category only. There is also a significant number of economically growing LIG and MIG segments who are also deprived of healthy living conditions.

In some states, Government has made it mandatory for builders to develop affordable housing units. In compliance with the government’s directions; many private real estate developers have initiated developing Affordable Housing Projects for EWS.

Affordable housing is fundamental to the health and well-being of people and for smooth functioning of the economy.

Planning to own a home of your dream? Buy your home under the Pradhan Mantri Awas Yojana (PMAY) scheme. All you have to do is determine the location where you want to buy your home, choose the builder and the bank or institute that will provide you with the home loan. The scheme aims to provide housing for all. Therefore, those who already own a home or any of their family members owns a home cannot avail of the benefits of PMAY.

In accordance with its (PMAY) rule, the beneficiary family must not own a pucca house elsewhere and the beneficiary family should not have taken help under any housing scheme from Government of India. A beneficiary family consists of husband, wife, unmarried sons and or unmarried daughters.