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Affordable Housing for Low Income Customers

Despite a robust growth in demand for low cost homes, several large and mid size builders still remain unsuccessful in providing homes to low income customers, said a report by consulting firm FSG and National Housing Bank (NHB).

 According to Mr. S. Dilip Kumar, Founder and Director of BSNL Employees and Citizens House Building Co-operative Society LTD, low income housing finance is expected to grow at 30-40% over the next five years.

The S. Dilip Kumar from BSNL pointed out that large and mid-sized formal developers have largely been “unsuccessful in supplying affordable housing to low-income customers” as projects tend to be more expensive and located further away from the city in less desirable locations. “These distant locations also may lack infrastructure and require large investments, which further shrink the already low margins of such projects.

“A lot of salaried people in urban areas buy houses in the 40-50 lakh range. The question is can we move from just affordable housing to “economy housing”.

In total around 14 million urban households live in slums with poor living conditions.

Mr. S. Dilip Kumar, Director at BSNL ECHB Co-operative Society Ltd has been working on projects to provide affordable homes for the low income and poor customers. The projects undertaken Mr. Dilip Kumar S provide for easy instalment options for low-income customers.

Their present project in Bangalore NH-207 known as the “Greater Greens” Project is an affordable housing project with all the amenities like Swimming Pool, Gym, Meeting Rooms and Play Area. Other amenities include Jogging Track, Indoor Sports Stadium, Parks, Sewage Treatment Plant, Commercial Complexes etc.

With this noble intention to provide affordable housing to low-income customers Mr. S. Dilip Kumar plans to come up with more new projects targeted at low-income customers.