2021-22 Union’s Budget offered exceptional support in the affordable housing segment. The urban sector was ready to be provided dignified and affordable living spaces to low/mid-income masses and migrants. The same constituted the surplus of industrial workers, migrants in the market associations, hospitality sector and other workers working in different industries under PMAY (Pradhan Mantri Awas Yojana).
The goal of providing affordable housing is to accommodate housing for the members of society with confined income. House owners receive credits from tax if a percentage of their property is used as affordable housing (for example, a given number of rental units in a building). Tenants also receive compensation from the government for paying their rent each month.
The affordable housing segment has observed a sharp rise in demand due to numerous government schemes and impressive sectorial growth. The land and housing assets offer long-term appreciation, making them a safer investment option that is bound to yield value gains.
The union budget put on extensions like providing 1.5 Lakh rupees of benefit on the interest to be paid on affordable housing loans by another year till 31 March 2022, which came after the preceding year’s subsidy grant from March 2020 to 2021.
Some specific extensions were offered, including the provision of 1.5 Lakh rupees benefit on interest paid on affordable housing loans.
Affordable housing has a top account across the top 7 cities in India, with more than 35 per cent housing supply. Affordable housing has witnessed a positive rise in demand with multiple government schemes and a significant sector increase.
India is a developing country and is very open to provide income-friendly housing options for multiple sections of society. The Indian government has also pushed to create more affordable home options for the lower and middle-income groups and other weaker areas of the country.
There is an estimate suggested that over 600 million people will be living in urban India by 2031. The growth of 51% since 2011 indicated the need to roll out cost-effective housing options that ensure affordable housing for the underprivileged sections, leading to a boost in the Indian real estate sector.
Migsun offers the residential wing under the Affordable housing scheme PMAY that provides affordable 2/3 BHK premium apartments with 1060 sq. ft. to 1650 sq. ft floor area. Migsun Group has designed the property to shape the future with a thrill, ease of technologies, and social & professional safety.
The group is offering affordable apartments featuring the hi-tech infrastructure built with passion.
The Migsun group has managed to board the affordable investment consists of all the high-tech facilities. The group provides apartments that are reasonable, intelligent, and high in facilities. Migsun commits to creating an environment that is acceptable to the nation’s evolving needs. The Affordable pricing housing gives you a high return in future with great benefits. The additional boost of buying a property under affordable housing is to be exempted from the tax of notional rent, which attracts investors in the home market.
About Migsun
Migsun Group is one of the advanced real estates mingles of North India with a vast holding of different real estate segments like residential, commercial & retail. Migsun Group is known for its sustainable, future-ready developments & communities.
GRIHA has approved Migsun Affordable Housing Scheme Noida Extension, AAI, UP RERA, UP Fire Service, and UP Pollution Control Board (UPPCB). Over the years, since its inception, Migsun has marked its presence in education, hospitality, film production, and skill India.
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