Major Indian cities are estimated to see additional demand for housing around 2.1 million units in the next five years and more than 50% of this will be in the mid-income segment those earning between 5 lakhs to 10 lakhs p.a.
Riding the Wave – Re-emergence of Indian realty sector ’ the demand in the residential sector in the country is estimated to be approximately 4.25 million units.
The Indian home loan market is expected to grow 17-19 per cent in the current financial year (FY) despite significant decline in affordability, according to credit rating agency ICRA.
Impact of interest rates The critical point is that as long as the down payment and EMI remains within their paying capacity the decision to buy a house remains intact.
Everyone yearns for a house of their own as it is a basic necessity. The first time home buyers purchase a property if it is good and affordable.Our research indicates that the impact of interest rates is less on first time home buyers than on second home buyers and middle income class mostly is able to buy one home in their lifetime.
Increased Affordability
In the 1990s the gap between the income of the middle class, and the cost of houses was huge, which made buying a house near to impossible. The cost of a house was more than 20 times the income, however, in the last decade this gap between income levels and cost of the house has reduced significantly and therefore more and more people are interested in acquiring property and thereby increasing demand for middle income housing. Along with this, the interest rates have also come down significantly compared to what they were 20 years back.
A residential property costing between 20 lakhs and 60 lakhs is easily affordable for the middle income segment of the population.
Urban areas, in India, not only attract poor and illiterate class of people from villages but also provide opportunity to educated and elite class to better their economic lots and lead a more comfort¬able life.
Mission
Raj Ganga Group intends to deliver best value for your money and to see a smile on customer’s face. We believe in putting our best efforts in order to fulfill the increasing expectations of our customers. With high expertise and skills, we are continuously marching ahead on the path of progress and excellence in the Real Estate sector. We understand people’s growing need to change their lifestyles that is why we are continuously striving to make the dreams of the people come true.
Raj Ganga Builders believes in fulfilling the expectations of our esteemed customers not just by building projects but by building strong bridges of relations.We believe in being the best at whatever we set out to do. After all, we have a name to live up to.
