Most of the reputed builders are focusing on building luxury houses. Low cost housing did not catch the fancy of many builders. Is it not a fact? If so what is the reason?
(2)Land cost: Land costs in Indian cities are definitely higher compared even to Dubai. So it makes sense to build multi stories apartment blocks for the rich and super rich who can afford and pay for it rather than build low cost housing for the middle income group people who have a budget beyond which they cannot afford to pay. This is one way of recovering the exorbitant cost of the land.
(3)There are no specific policies, programs and encouragement by both State governments and Central government as far as housing for the middle and lower income group people is concerned. The best example is to check how the government manages the lands. It auctions off the lands to the highest bidder and it does not reserve the lands for th ...more