Affordable housing is the term used for those kinds of housing complexes that satisfy the buying intent of medium-income group peoples.

In simple words, affordable housing completes the needs of purchasing a home for the lower and middle-class income group peoples. 

The majority of the populations in India are still living in the rental home. But living too long on rent is not feasible. So Affordable Homes are introduced to fulfill the needs of majority income group peoples. 

Available income is the primary factor that decides the eligibility of purchasing an affordable home. Because of this, it increases the government's responsibility to create some provisions to meet the trending demand of affordable home buying. Recent budget 2021 announced tax exemption benefits on an affordable home purchase.

Why do people living on rent move towards affordable home buying?

Investing in buying an affordable home segment can provide a residential space with the name of ownership. An affordable home buyer should feel the confidence of a self-owned home having a nameplate with their name placed at the sidewall of the entrance. Also paying money as rent is not worth it because at last not getting any return value other than stay. But by buying an affordable home one can enjoy the freedom of ownership in return which is worth it. Most of the tenants are trying to shift towards purchasing an affordable home. They understand the key advantage of buyingan affordable home. Instead of paying monthly rent, paying Monthly EMI is too good which will provide a longer future benefit. These pros of buying affordable homes tend the majority group of people to look out for self-owned homes in India.

Conclude: 

Hope the blog is more informative and helps in understanding the key reason to shift in affordable home buying in India. Moreover, one can look out for the best affordable home segment in the Kalyan Mumbai region. Try to approach Sonawane once for the affordable housing project. Get the complete details about the new project launched, Budget oriented configurations.