Is Affordable Housing, a reality ?
In India, the conditions of below the poverty line population is very much below the basic standard of living. So, the primary concern is that their standard of living is improved. Moreover, it is essential that these sections of people are provided with affordable housing options. ‘Housing for All’ should be achieved to attain a very harmonious society in the near future.
Can this affordable housing be achieved for the weaker section of the people in the near future? The answer is not as simple, as most of the developers have never tried to come up with any low cost projects for the weaker section.
But recent technological advancements like advanced composites, 3D printing and Readymade Structures have made affordable housing for all, possible. In the Low cost housing category, the real estate developers are also exploring various options to enter the market.
Operations and Financial constraints play a key role in the affordable housing category. Moreover the margins for the developers would also be low. We need to wait and see whether the real estate developers are going to test these untapped waters by achieving the economies of scale.