Affordable Housing Projects have become an integral part of real estate in the times now. A number of people are actively purchasing affordable housing projects. Despite the fact that there are plenty of benefits of investing in these properties, there is the flip side of the coin as well. This article will help you understand the pros and cons of buying an affordable housing project in Gurgaon.
Stated below are the pros of buying an affordable housing project in Gurgaon:
The government scheme of HUDA Affordable Housing 2013 has proved to be beneficial for the masses. Especially, office-goers can happily afford to own their personal homes. The benefits that one can obtain from affordable housing properties are-
- Predetermined rates, sizes, and tenure.
- Charges calculated on a carpet area basis.
- No maintenance for 5 years from the date of possession.
- Zero EDC and IDC.
- Up to 90% bank loan on the property rates.
- Rs.2.67 lacs subsidy on bank interest.
- No hidden charges.
- Gated community
- Elevated neighborhood.
It is certain that you must be drooling over the perks of affordable housing projects in Gurgaon. Nevertheless, the drawbacks of investing in the same too exist. Indeed, it is a little unusual to believe that besides having so many benefits, there could be any stumbling blocks.
The Disadvantages are mentioned here-
- The majority of these projects are launched far from the central location.
- Being situated afar, there are lesser infrastructures.
- The loan can only be availed if you have a favorable civil score.
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