GRAND TRIUMPH – “THE MILLENNIA” OVERSUBSCRIBED BY FOUR TIMES!!

Affordable Housing Projects in Gurgaon - Signature Global

Signature Global being one of the established names in affordable housing, today believes in the motto of “Har Parivar Ek Ghar”. It is a 100% RERA compliant company that has successfully launched 9 of their affordable housing projects in Gurugram. Their main focus is affordable housing so they are currently aiming at delivering around 1 lakh units till 2022 to support the endeavour of the respected Prime Minister of “Housing for all by 2022”.
Signature Global believes in transparency and assures timely execution of the projects within 3.5 years from the date of project conceptualization.
The Millennia Sector 37 D Gurgaon near Pataudi Road is their latest project which has been designed by the notable Architect Hafeez Contractor. The same project recently underwent a draw in the presence of Haryana officials and various applicants on 27th October 2017 at Corus Banquet Gurugram.
The Millennia includes 1448 housing units consisting of 1 bhk 2 bhk and 2 bhk housing units. Around 2,500 applicants gathered to participate in the draw whose application submission commenced on 25th June and got closed on 14th August 2017. The draw lasted less than 75 days as it got an overwhelming response of more than 5000 applications.
“We would like to cordially congratulate all the successful allottees of The Millenia. The people are now having ample options, as there are many affordable housing projects available for them. Going for a value-based property is still a better option as compared to the rental living. Considering these reasons, communities should make themselves aware of the ins and outs of the project while considering the current real estate scenario as this will increase their chances of opting the right property.” says Pradeep Aggarwal, Chairman, National Council on Affordable Housing, ASSOCHAM who is also the Co-founder & Chairman of Signature Global.
Value-based homes with less hassle is what everybody strives for.
Decent, affordable housing has been important to most of the families. The basic need of getting a shelter for the living is fulfilled by the same. The low-cost projects give an opportunity of spending a decent amount in all the other relevant segments of life. Even the reports suggest that children in stable housing tend to do better in school and are less likely to experience a disruption in their academics and career. India already has a housing shortage of 2 crores and the reason behind this being the lack of affordability factor in the properties. The affordable housing projects have the high rate of absorption as there is a lot of demand for the low-cost units. The affordable housing factor is going to benefit as the land cost is going to be lower in the areas where affordable housing has to take place. The developers should bring projects according to the need of buyers and investors. It’s quite clear that there are people who are still aspiring for own houses so the developers should work in the same direction to maintain a consistency in the market. According to the reports, 1.77 million people are still homeless in India and most of them are relying on the rented properties. The statistics clearly show that there is a high demand for housing units and preferably these housing units should be easily affordable by the majority. The demand for affordable housing projects is rapid says the industry experts. The government authorities are meeting frequently in order to eliminate the roadblocks that are being faced by the developers while executing such projects. Already the policymakers and the financial institutions have made enough policies and amendments in order to facilitate the Pradhan Mantri Awas Yojana scheme.

ALL YOU NEED TO KNOW ABOUT AFFORDABLE HOUSING

Affordable Housing in Gurgaon
The much talked about segment of real estate has gained momentum speedily. As part of the initiative initiated by the Prime Minister to provide affordable housing to all, affordable housing projects have been a motive by the government to provide an own house to all the sections of the society so that nobody remains homeless. The Pradhan Mantri Awas Yojana was launched in June.  Affordable housing refers to the housing units that affordable by the section of society whose income is below the median household income. The price related to affordable housing will vary depending upon the regions. The affordable housing units for the metropolitan regions should have a capping area of 30 square meters and for non-metropolitans, the area should be 60 square meters.  Cities like Delhi, Mumbai, Kolkata, Chennai, Bangalore, Hyderabad, etc. fall under the metropolitan region and rest of the areas would lie under the later one.

The affordable housing projects have a high rate of absorption as there is a lot of demand for the low-cost units. The affordable housing factor is going to benefit as the land cost is going to be lower in the areas where affordable housing has to take place. The developers should bring projects according to the need of buyers and investors.  It’s quite clear that there are people who are still aspiring for own houses so the developers should work in the same direction to maintain a consistency in the market.  According to the reports, 1.77 million people are still homeless in India and most of them are relying on the rented properties.  The statistics clearly show that there is a high demand for housing units and preferably these housing units should be easily affordable by the majority. The demand for affordable housing projects is rapid says the industry experts. Approximately, 12,000 applications belonging to the middle and low-middle income home buyers have been processed by different banks for interest subsidy in just two months. This number may reach 50,000 by August says the Housing Ministry. The various initiatives taken by the financial institutions in the form of interest reduction on home loans are paving way for the aspirants striving to buy their first home. The enactment of GST has not only made the taxation process easier but has also introduced transparency. These enactments are altogether fostering the market and also encouraging people to invest.

AFFORDABLE HOUSING AS AN EMERGING INDUSTRY

As the reports can clearly show that the affordable housing has undeniably gained momentum.  It would be the next juncture for investment says industry experts and stakeholders. However, the responsibility of supplying affordable housing is initiated by the government, the entire industry of financial institutions and developers are coming to the forefront to make the government’s “Pradhan Mantri Awas Yojna”   accomplish. Affordable housing projects have become a new interest for the developers as they know it’s attracting more homebuyers.  Due to the governmental initiatives, the concept of affordable housing has become an admirable concept. The concept is still growing; the goal to provide homes to all still prevails. The push from the government is encouraging the private sector participation to this concept.

According to the reports of officials belonging to the financial firms, corporation’s January loan applications rose 21% over December. February witnessed 24% haul up, and March was 44% more than the previous month. It seems that the affordable housing is not just about providing affordable homes to the lower-income strata of society. Through the newly introduced policies in certain segments, we can assume that it is having a direct connection with the nation’s economy and the whole of the real estate climate. The recent push for this project is commendable but the lack of availability of land is a major concern. The developers are in need of land and the unused area can easily gratify their needs. The major concern of is to execute the “PradhanMantriAwasYojna” at a faster pace. Land availability is currently the major challenge for the developers across India.

“According to me, the quick execution and policy change, the sector will give rise to new parameters and housing styles.  This will also lead the financial institutions to work on lower thresholds which will make new inroads for the home-buyers.  The increase in demand of affordable projects is seen on the real estate portals clearly by the experts. It’s a positive sign for us as we have been focusing on a similar concept since the beginning” says  Pradeep Aggarwal, Chairman, National Council on Affordable Housing, ASSOCHAM who is also the Co-founder & Chairman of Signature Global.

Affordable Housing Changing the Real Estate Sector

In a country like India where homes vary from single rooms to multi-storeyed mansions, affordable housing projects can make a great difference. This segment of the real estate sector is predicted to grow and drive the Indian economy in the future. Some experts believe the growth rate to be well over 30%.

Eight cities in the country have come forward to experiment with affordable housing and have shown results. Housing projects priced below INR 50 lakhs formed the majority of the total launches alluding to the fact that the country is making the most from it. Not only is affordable housing considered a respectable segment today, it may well be the missing link for the real estate industry.

In 2007, when the first of the affordable housing projects started, the real estate sector was under severe pressure. Apart from the heavy costs that came with construction, there was also unavailability of land and little incentives. The tax environment was discouraging as well. But, it started changing with the announcement of the “Housing for All by 2022” by the new government. The scheme aimed at building 2 crore homes in all urban locations within five years. The program acted as a catalyst for the real estate sector with incentives and schemes to promote growth.

The government began by granting an infrastructure status to the upcoming affordable housing projects, allowing developers to have access to funding including the external commercial borrowings (ECBs). In addition, the project promoters were granted a total of five years to complete their projects. The government also revised the qualifying criteria for a housing to be considered affordable for both metro cities and non-metro cities. This has given a tremendous increase in the affordable housing market. Apart from all the advancements, the government has also allowed developers to pay their taxes such as the notional rental income tax in a year’s time while the Credit Linked Subsidy Scheme (CLSS) was also announced.

This push for policy and the financial assistance by the incumbent government has brought more real estate developers to take up the new housing segments. Although the demand for affordable housing already existed, the regulations, infrastructural support by the government and urbanization has augmented its popularity.

If you are looking for affordable housing projects in Gurugram or NCR, you are likely to find what you want. The government has passed RERA that has given buyers fresh confidence in the sector. The first-time buyers can also find homes within their budgets and easily-available finance has made the demands even higher. More financial institutions have come up that offer small home loans to people in small towns and cities. With a huge population falling within the low-income and middle-income groups, the demand for affordable housing can reach as high as 25 million homes. 

There are however, some challenges such as finding land in the urban centres of the country. To create 2 crore homes within the next few years will become difficult without land availability. Large government bodies which currently hold non-essential lands have to be unlocked for this purpose but without it, the dream housing for all will be distant reality.

The housing shortage seen within India has already crossed one crore units. Even though the government has recognized this gap in housing, it will take years before any real changes can be seen. However, with the government also consolidating the policies, infrastructure, and financial availability, it is likely that affordable housing can close the ever-widening gap. Urbanization and increasing demands for affordability has placed affordable housing projects as a viable commercial opportunity that can alter the course of the real estate sector. 

Signature Global is a reputed name in the real estate sector in India dealing in affordable housing projects. Signature Global’s residential flats in Gurgaon include their massive projects of Solera (Sector 107), Synera (Sector 81, NH8) Andour Heights (Sector 71), Orchard Avenue (Sector 93), Grand Iva (Sector 103), Roselia (Sector 95A), and Serenas (Sector 36). At present, Signature Global’s Signum project offers retail shops in Gurugram in sector 36, 95A, 93, 103, 71, 81, and 107. For bookings, check http://www.signatureglobal.in/retail

AFFORDABLE HOUSING: A DREAM COMES TRUE

Affordable housing in Gurugram has been a motive by the government to provide an own house to all the sections of the society so that nobody remains homeless. The Pradhan mantra Awas Yojana was launched in June 2015 and the execution of the same has been speaking volumes since then. There have been amendments and enactments regarding the policies related to the real estate sector so as to offer the appropriate climate to the affordable housing segment.  There are many private and financial firms that have been taking productive steps in this direction. The reduction of home loan interests by certain banks has given a major ease up to the people still struggling to purchase their first own house.  The developers and builders of the nation have been working hard to make affordable housing units ready before time but due to certain challenges, some states lagged behind. In order to deal with such challenges and situations, the government further made amendments in real estate related terms so that the execution could get a boost. The PMAY policy is entirely dedicated to suffice the needs of a common and middle-class section that cannot afford high-priced housing. There has also been noted an increased rates in the sales of affordable housing units.

“There have been a majority of people striving to buy own homes thus,  affordable housing units are a source of relief for the people who couldn’t purchase an own house. Indeed it’s a beneficial step as we being a developer would be sufficing the basic needs of the people and market goes smoothly when we understand the need of our consumers and come with projects accordingly. Affordable housing is not just a benefiter for buyers but also for developers like us who pay special attention to the needs of the majority  and contribute to the easily affordable units” says Pradeep Aggarwal, Co-founder & Chairman, Signature Global.

Source:- www.signatureglobal.com

In the present social scenario, owning a house is considered to be an important status symbol. But, it is not just a financial milestone, owning a house can be a great investment and offer structural sustainability, when needed. Perhaps, this is why more people incline toward buying than renting. Renting has its advantages but there is nothing like the feel of your own home. How do you know when you are ready? Real estate experts give five questions to consider before making the transition.

1.      Do you want to control your surrounding?

As much as we try to find a rented property best-suited to our needs, it is likely that there is something more that we want. It could be that we want a swimming pool for your kids or perhaps we want to remodel the kitchen. In fact, some homeowners ask their tenants not to bring guests over, not add or remove any fixtures, and complain for just about any noise. If you are among the many frustrated with this meddling, experts say that it is a definite sign to change. Upcoming affordable housing projects across Delhi/NCR allow you to design your space as you want. In addition, many of these projects offer facilities and services that you would not find in rented spaces.

2.      Are you interested in a specific part of the city/country?

This is an important question to consider. Most rented houses, although they are affordable, are located in corners lacking essential facilities. This is a fine solution for single individuals but if you have a family, this could mean continuous difficulties. In some cases, you may like a particular neighbourhood, but there are no renting options available. Affordable housing projects are your answer. These projects are spread across the city and available at prices that you can afford. In addition, investing in an affordable house gives you the necessary footing within the neighbourhood of your choice.

3.      Are you coming across good deals?

In the current scenario, it is likely that you are coming across good deals on home projects in Gurgaon and neighbouring areas. The new government policies are working wonders for the real estate sector and you can continue to expect good deals for a while. But what happens now? Are you going to stop about the what-ifs and take the first step? Experts advise that if you are finding a good offer, you should at least consider the property. Check it out, compare the prices in the market, research a little and then decide what you would want to do. The affordable housing projects are very popular in the market especially because more financing institutions have come up to support them. This might be your chance.

4.      Do you have enough savings for a down payment?

Most of us work hard to increase our savings. But after a while, the savings sits in our bank accounts without getting us benefits. If you like a property and find that you have enough savings for a down payment, decide to act. Experts claim that people work a lot to save the down payment amount but when it is time, they hesitate. They aim to find something bigger, better for the same value. It is unwise to let that capital lose its value when you can exchange it for a worthwhile investment. Remember, a property is of consolidated value.

5.      Are you considering having a family?

This is a clear sign for a transition. More people in the family means more space, more bedrooms, and more storage. On the contrary, you may find that your rented house is too spacious and you don’t need that space anymore. Buying a new space, according to your family’s current or projected size could be worthwhile. Affordable homes are giving an opportunity for small and large families to have their perfect space.

Signature Global is a reputed name in the real estate sector in India dealing in affordable housing projects. Signature Global’s residential flats in Gurgaon include their massive projects of Solera (Sector 107), Synera (Sector 81, NH8) Andour Heights (Sector 71), Orchard Avenue (Sector 93), Grand Iva (Sector 103), Roselia (Sector 95A), and Serenas (Sector 36). At present, Signature Global’s Signum project offers retail shops in Gurugram in sector 36, 95A, 93, 103, 71, 81, and 107. For bookings, check http://www.signatureglobal.in/retail

Millennials are the New Affordable Home Buyers

If you are a homeowner looking to sell your residential flat in Gurgaon or any part of the NCT, the chances are you will be selling it to a millennial. It is seen that the millennials are the newest entry into the real estate sector. It is possible that today they are form the largest group purchasing homes for the first time. This seems to be a new trend, where earlier, this generation was known to rent housing in cities. So, what is it that you as a homeowner need to be aware of to cater to this population? Here are some quick areas.

One of the most important reasons for this generation to deviate from their original behaviour is the low rate of interest available in the market. The launch of the affordable housing scheme in Gurgaon, NCR, and other areas in the country have prompted millennials to think of investments in a sustainable manner. What could be a better investment than a real estate property? The confidence is high, and many of them believe that they would like to purchase a property. In addition, the availability of more financing options adds to their developing interest.  Nonetheless there are some hurdles paving their way.

If we look at the real estate scenario a little closely, we see that there is a shortage of affordable housing projects in the country. Even in Delhi NCR, which remain the top property destinations lack more options. The affordable housing project launched by the government intends to work well for low income groups and economically weaker sections. The millennials wanting to buy homes do not fall in this category, which calls for an extension of the criteria employed for the scheme.

In addition, most affordable projects are present in the city’s periphery, where transportation and basic amenities are yet to reach. In this scenario, working millennials find themselves unfairly tackling infrastructural limitations against their interests. With inter-city migration, especially for better economic opportunities, millennials prefer living closer to their work places and where there are amenities present round the year.

As a homeowner, it would a wise decision to invest in meeting some of these expectations. Enlisting yourself with a loan officer or working closely with a real estate agent will allow for matching your property with the right client. In addition, even though your property may not have luxurious countertops and club memberships, real estate agents can help millennials look for the right deals, such as a school district and a safe neighbourhood. Ensure that you are making the business as simple and easy as possible for the buyer. This could include easing the paperwork process, discussions about the down payments, and any credit issues that may need to be handled. The unfamiliarity may be an overwhelming experience for them and you can ensure that they have a good experience.

The market conditions are in favour of affordable homes than premium housing projects. Nonetheless, you may come across buyer expectations which may not suit your present situation. Research well about any additional investments into the project and see whether you will be rewarded by the market in the days to come. Millennials will continue to remain a strong contender in the real estate market as homebuyers especially because their economic projections are favourable. As a large population in the country is reaching their retirement, more millennials have stepped forward to fill their gaps. It is beneficial to see these new customers for the kind of influence they will have and leave on the real estate sector. After all, they are the future.

Signature Global is a reputed name in the real estate sector in India dealing in affordable housing projects. Signature Global’s residential flats in Gurgaon include their massive projects of Solera (Sector 107), Synera (Sector 81, NH8) Andour Heights (Sector 71), Orchard Avenue (Sector 93), Grand Iva (Sector 103), Roselia (Sector 95A), and Serenas (Sector 36). At present, Signature Global’s Signum project offers retail shops in Gurugram in sector 36, 95A, 93, 103, 71, 81, and 107. For bookings, check http://www.signatureglobal.in/retail