Good Growth in Real Estate Market has Increased Demand in Affordable Housing Sector

The real estate industry last month brought good growth due to which this month there is a huge boom in the demand for real estate properties. During the second quarter of the year, 2020 last compared to the same period of this year strong demand and supply have increased.

According to a recent report, a mixed trend in buying property was observed, but the most sought out sector was  ​​affordable housing. The real estate experts say that the steps taken by the government on low-interest rates and home loans are the cause of the increased 2 and 3 BHK home sales in the last few months.

2 BHK Flat in Bhopal

Even in the affordable housing segment, new home sales have increased and in these increased sales the reduced stamp duty is also included. Apart from these affordable homes up to Rs 45 lakhs, a reduced GST rate from 8% to 1% has been done for the home buyers.

Also, affordable interest rates under the housing scheme acted as a cause of great relief for customers buying property. The affordable housing interest under this scheme has been extended till March next year 2022. Initially, this scheme was going to end in March 2021 this year.

For the purchase of up to affordable houses an additional deduction of Rs. 1, 50,000 for the one year is expected as the effect is visible in the real estate market. Anyway, the past COVID-19 circumstances that made people understand the importance of owning a home have given a push to why people are now buying new houses in Bhopal. Recently there has been a boom in the sale of houses it is indicated that the people who are working from home are buying new homes in Bhopal because houses are attractive and spacious too and become a good investment for the future.

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