With consistent efforts from central Government in the affordable housing segment, several top-notch developers across the country have started showing their interest in the development of such units. However, among all the Tier-1 and 2 cities, NCR has emerged as a hub with a maximum number of affordable housing projects available at various stages of construction.
If we go by the latest industry reports, NCR alone enjoys a share of about 30% of the affordable housing supply during 2017-18. Major areas in the list include Sohna (Gurgaon), Raj Nagar Extension (Ghaziabad), Yamuna Expressway, Greater Noida, and Bhiwadi.
Apart from some ongoing projects, many new launches have also been announced in this category in recent times. Let’s take a look at these newly launched projects:
Gaur Group- Crossing Republik and Yamuna Expressway
Crossing Republik in Ghaziabad and Yamuna expressway are the emerging HubSpot in the affordable housing segment. Recently Gaur group has announced their affordable housing projects in both region which will developed in next three years with an estimated cost of 1000 crore. Eight acres of land in Crossing Republik and 25 acres of land in Yamuna expressway has already been finalized for the development. A total of 7000 units will be constructed out of which 2000 units will be for economically weaker section (EWS) category. While the cost for mid-income group houses will be between 15-25 lakh, the EWS unit will cost around 4.5 lakh. Once constructed, these units will be handed over to state government, which will be later allotted to selected beneficiaries.
SCC builders- Raj Nagar Extension
SCC builders announced to develop an affordable housing project in Raj Nagar Extension. One of the most promising residential hubs closest to Delhi, investing in affordable housing here is an ideal choice for many home buyers. SCC builder will develop 1000 units with an estimated investment of 300 crores. The project will be developed in 4.5 acres of area and will cost around 25 lakh. Out of 1000 units, 300 will be dedicated to the EWS category.
Signature Global-Gurgaon and Ghaziabad
Signature Global who has created a benchmark in the affordable segment of Gurgaon has recently announced their new projects in Karnal (Haryana) and Raj Nagar Extension (Ghaziabad). The group has already prepared a blueprint for the construction of 25,000 affordable homes in Raj Nagar Extension. Around 9300 affordable units have been launched in Gurgaon and other 350 in Karnal. In all, the company is aiming to complete around 50000 affordable houses in Haryana. The project will be developed with the help of PMAY scheme so that beneficiaries can easily avail subsidy.
By the end of 2022, Signature Global is planning to build around 1 Lakh affordable units across the country.