DDA, HUDA flats still a popular choice

While everyone is raving about the affordable housing policy of Gurgaon and the various projects that have already been launched by several established developers, the DDA and HUDA schemes still seem to hold fort among buyers!

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More than 65 per cent of the buyers in Delhi NCR go for the Delhi Development Authority (DDA) and Haryana Urban Development Authority (HUDA) schemes if they have Rs 18-20 lakh to invest! This was reflected in a recent survey conducted by Magicbricks. As per the survey, 50 per cent of the people who opted for a DDA or HUDA flat said they always wanted to own one of these. Nearly 23 per cent also felt these flats had a better chance of getting returns in the long run. These also saw preference due to ease of selling.

These flats were most popular among respondents in the age group of 25-35 years with 45 per cent demand.

The Gurgaon affordable policy seems to have touched a chord with the masses. More than 21 per cent respondents said they would go for the projects launched by some established developers in Gurgaon post the announcement of the policy, if they have Rs 18-20 lakh to invest.

These projects found preference among those longing to live in Gurgaon but could not due to the high prices. More than 40 per cent of respondents who wanted to invest in Gurgaon said they have been waiting for an option to live in the city. Slightly more than 35 per cent respondents stated the difficulty or rarity of finding an affordable project in the area as the reason for investing.

Buyers in the NCR showed lower preference for smaller cities such as Bahadurgarh and Rohtak. Only about 9 per cent respondents were keen on investing in Bahadurgarh on account of availability of larger ticket sizes for the same amount.

Thus, dependency on authorities such as DDA and HUDA, for affordable projects in the NCR is amply clear. The government needs to take other initiatives as well if they are to make affordable housing a reality. The affordable housing policy in Gurgaon is a step in this direction, however, a lot more needs to be done.    

Sruthi Kailas is a keen market researcher and is currently a part of the content and research team of Magicbricks.com

Source: http://content.magicbricks.com/industry-news/delhi-ncr-real-estate-news/dda-huda-flats-still-a-popular-choice/80092.html