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Sibani Sarma
Typical troubles and situations faced by lower income families in urban
India contain unhygienic sanitation facilities, inaffordability of
anything but a slum, lack of needed amenities like electricity,
water etc. The require of the hour is a paradigm shift to
in the coming few years.
That one can spend 40 times of his/her monthly income for housing
expenditure…. is an fantastic thumb rule for developers and policy
makers across the board. The lower income bracket could not have the
revenue but they do not lack in taste. There is for that reason a significant market
demand from the marginalized communities for low price liveable housing
facilities. And this is a entirely untapped prospective market.
What sets back this sector is the financing on both the sides which is
not that easy to get as it is for expenditure in other sectors. Apart
from that, it takes a rigorous procedure of physical verification for
the approval-stamp on the loan (a micro finance approach) as the
buyers in most cases don\'t have tax returns or salary slips. A different
significant issue that crops up is the increased possibility of the
constructed houses being bought by investors (and not end-users)
hunting for further investment opportunities.
Hence Bharati Kadam, spokesperson from iDream said that \"if the policy
makers are effective in working out profit margins for developers,
quite a few will jump into the fray to tap this section of the society\".
Developers currently do stake claim of constructing \"affordable homes\" by
catering to flat buyers in the 30-35 lakhs bracket for an region of
1,000 sqft in tier II cities. But in the true sense, this is more of a
cost correction and as Bharati points out \"this is still way above
what most of the marginalised section across the country can afford\".
New age construction technologies and pre-fab construction businesses
and modular construction companies can make a big impact in bringing
down time and cost of construction. A substantial quantity of study
is going into developing India prototypes of housing solutions, in an
effort to bring down price of construction by upto 50% and this is a
ray of hope for the section of society which can't afford significantly however.
Successful developments come from matching style, planning, price,
project management abilities with the vision and expertise in the real
estate market. And the iDream team claims that they take on projects
which are individually conceived and crafted with care from the
conviction that they influence the lives of those who use them, be it
in the affordable sector or a fairly high end user.
iDream Advisory Services Pvt Ltd is an architectural and interior
designing firm with a powerful commitment to creating sustainable built
environments. The firm has delivered green solutions to organisations
across all corners of India.
For much more details log on to:
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