According to numerous property websites in India,
mid-Income Housing in India can only be successful if such properties are in
favourable localities. According to such property websites, in the past, many projects targeted to
middle-income households failed because such projects fell short of meeting
certain essential criterion. This real
estate website will delve into greater detail concerning what criterion
are essential for success when building for middle-income households and the
importance of the fulfilment of this criterion to middle-income households.
A Good Location
A middle-class family in India would like to enjoy all of the
trappings of middle-class life. This includes being well connected with the
rest of the city and having easy access to education and entertainment vistas.
A middle-class home that is in a secluded region is unlikely to find favour
with middle-class households since middle-class families usually comprise of at
least one or two children and the parents of such children would like their
children to attend school nearby, not across town.
Table of
content
|
Most middle-class families in India have at least one parent who
works and he or she would like to be able to commute to work and back with
ease. Hence builders who have constructed properties in India which they intend
to sell to middle-income buyers should ensure that the house is located in
close vicinity to an employment hub. Technology parks are among the most sought
after employment hubs for the middle class.
The saying all work and no play makes Jack a dull boy proves
doubly correct for children. Entertainment vistas are crucial to enjoying a
high standard of living and access to sports fields and malls is important to
be physically fit and abreast with the latest trends.
The Price Should Be Right
According to most real estate sites in India, the
pent-up demand for mid-income housing in India ensures that most supply will
eventually be absorbed. The excess supply in this segment is measured in
months, not years as most units are expected to be sold within a few months.
However, the price of such property in
India should make it attractive to middle-income buyers and such homes,
in the end, should not be priced so as to make them appear to be daunting to
MIG households. A lesson to learn is that the Mig market segment is driven
nationally by end users, not investors.
A Brisk Completion Timeline
MIG properties in India
should not have a very long term completion horizon, this has in the past
wreaked havoc in the lives of middle-income households who at times have had to
wait for years to occupy their new home while they have simultaneously paid
rent to live in another home. According to this property website, timely delivery by builders makes such projects
all the more attractive to MIG households.
No comments:
Post a Comment