Lately, affordable housing in Gurgaon has witnessed a sudden surge in demand and supply alike. The segment has received a considerable boost from the government’s various initiatives to provide every section of the society with modern housing. However, there are still certain factors that you should consider before buying an affordable home in Gurgaon 2021.
1. Location: Like in any property, you would want to pay attention to the area while buying an affordable home. It would depend on your personal requirements and preferences. For instance, if you have children, you should consider purchasing a home with multiple schools nearby. Hospitals, markets, and other essential amenities are critical too. The best affordable housing projects in Gurgaon are located in regions with superior social infrastructure.
2. Connectivity: You would want to buy your dream home in a locality from where you would be able to access different parts of the city with ease. In the past, most of the affordable housing projects used to be built on the city outskirts. However, this is no longer a problem with developing such projects in prime locations offering seamless connectivity. It is advisable to seek out these projects while buying an affordable home.
3. Property price trends: This factor is mostly applicable in the case of investors rather than end-users. The trends in the land rates in a locality indicate the returns on investment to expect. You might want to spend some time studying the recent price trends to find an affordable homes in Gurgaon, which would appreciate the value in the coming years. This would help you earn profitable returns in the future.
4. Payment plans and loans: The affordable housing project are built to cater to the middle class of the society, which doesn’t usually have a very high purchasing power. The payment plans are designed accordingly, too. For example, specific housing projects offer easy payment plans spread over relatively long periods. You might want to look for a property for which the required loan is readily available too. Much affordable housing Gurgaon booking open projects covered under government schemes allow the buyers to make up to 90% of nationalized bank loans.
5. Budget: It is crucial to consider your budget with care before making the purchase. Even when you opt for a loan, make sure that you would pay it off win time without any hassles. You may take the help of real estate consultants to get an idea of the price range best suited for you and accordingly look for a new home.
Is it smart to invest in an affordable property?
Investors are often unsure about buy affordable flats in Gurgaon due to concerns over the returns on investment. However, these properties are currently the best investment options due to the low risks and high returns. While an affordable home would naturally attract lower revenues than a luxury home, finding tenants would be much more comfortable, and you may count such a home as a reliable source of income.