Are Affordable Homes Really Out of Reach for Intended Beneficiaries? |
Posted: June 19, 2017 |
Rahul Wadke, an auto rickshaw driver, dreams to get a home in the city of Pune for his future generation. Is it affordable for him to buy? The 40 years old auto rickshaw driver, with the monthly income of Rs. 20000, planned to invest in a Rs. 10-15 lakh flat in Pune after the center declared their affordable housing scheme. He said that the housing complexes inside the city are very costly for him, so he has to find something outside the city.
Union government has published the notification regarding infrastructure status to affordable housing projects in Pune. The project utilizes 50% FSI (floor space index) for living, with the carpet area which is not more than 60 sq. m. There is a statistical view which proves 60% demand for apartments is from the poor class people like Wadke. If the government does not declare some concessions for the buyers and developers, a minimum of 10% people cannot get this opportunity. The developers engage in low-priced housing projects and they believe that these middle-class people will inevitably make their profit. Shantilal Katariya, Maharashtra zone president of The Confederation of Real Estate Developers' Associations of India, said that the entire area is between 30-40 sq. m. Most buyers from the low-income group don’t have ample amount of money. They also do not take the risk to get loans from the bank for real estate Pune. So, this segment will never enjoy the benefit of the scheme. It is tough for our future generation to seek a good home where they can live peacefully. It is harder for the middle-class family as the rate of the apartments and flats is increasing day by day. The money, needed to buy a flat or home, is quite large to manage. While a meeting was going on in Prime Minister’s office, Credai-Maharashtra talked about the problem and urged for the solution of these residential projects in Pune. He said that they needed loan rate between 6-7%. Apart from this, it was discussed that infrastructure should be in place in such areas where the projects are being built. The stamp duty must be waived, and the partnership models started where plots were given to the builders to construct affordable apartments. He added that cheap residential projects in Pune might come up within the corporation limitation if the premium charges of development, fees of scrutiny and the extended FSI were given to the home builders. For a citizen with the monthly income of 40000, the loan limit should be about 20 lakhs. All of these are done for the sake of the help of poor and middle-class people. It is not good always that only millionaires or rich people live in flats or apartments. Even the poor people have the right to live in sophisticated houses.
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