Year 2014 brought a bag of mixed feelings for the Indian Real Estate Industry. Though the first half was rather slow, second half of the year was fast enough to make up for it. After the Union Budget was announced in the beginning of financial year 2014-15, a wave of positivity was seen in the real estate market.
Affordable housing was given the top priority status. As a result, the state government authorities started launching affordable housing projects in their respective areas. HUDA in Gurgaon and DDA in Delhi came up with numerous flats for the Economically Weaker Sections (EWS), Lower Income Group (LIG) and Middle Income Group (MIG). Private builders also launched affordable projects in different parts of the country to support the government’s initiative. [Read more…]