Months after developers flooded the market with housing projects tagged as "affordable", there seem to be very few takers. The reason: the actual area of many of these flats is far less than usual. Others are being rejected because of poor location.
Renu Chaddha (name changed), who had bought a flat in an affordable housing project that was launched in Faridabad earlier this year, and is looking for another property to invest in said: 'At that time, only a few developers had launched their projects. All of them had good locations, so my husband and I decided to invest. It was only around Rs 20 lakh.' Six months down the line, Chaddha says that the newly-launched housing projects have left her without any inclination to buy.
'The usual room specifications are 1200-1400 sq.ft. for a two bedroom flat. But most of the projects coming out now and being marketed as affordable housing measure between 800-1 ,000 sq.ft,' admitted Pradeep Mishra of Sainik Estates, a local brokering firm.
Times of India