DLF Plans Homes for Middle-Income Families in India
Posted on May 2, 2008 in Business and Finance by Shewli
Builders and promoters in India seemed to have forgotten Indian middle classes. Middle classes can hardly imagine a proper accommodation these days. The price of flats has soared so high that middle income could hardly imagine buying homes. The builders only targeted the rich and high-income groups.
The high demand from the middle-income families was ignored. The concentration was more upon the high income groups because the profits being high there. Now there is a fall in demand from high income groups and land prices having increased abnormally such housing facilities it the market is slow.
The middle-income’s search for safe and quality homes seemed to be coming true. DLF has plans to cater to the vast middle class section by building two bedroom and four bed room flats in high rising buildings.
At Mumbai, recently an announcement was made by the government that the government is planning to build homes for the middle and low income groups. To cater to the needs of the common people it requires the government to take the first step.
This is a hint enough that we will have more and more private companies entering the market to cater to the needs of segments other than the rich and high income groups. These days landlords want to rent their property only to software engineers and people work in MNCs.
Another shocking news was from Chennai where school teachers find no affordable home in the city. Middle classes have reached a stage where they cannot own homes except in high rising apartments.
Land prices are rising crazily in smaller cities too as more and more MNCs are opening shops in the small cities with the purpose of cutting costs. House rents are rising as fast as shopping establishments and owning a home is a big dream. All dreams need not remain unfulfilled and housing dreams can be fulfilled with a life-long debt. The new generation of double-income middle class families remains to be tapped in the area of housing.
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