Housing for lower income people

Now even the lower income group people will be able to have a home of their own.Soaring home rates are making economical housing all the more difficult for the common man with meager income. DBS has announced construction of 5000 affordable homes in the surrounding region of Ahmedabad. The prices are expected to fall in the range 3.5 lakh to 8.5 lakh.

DBS plans to make use of Hybrid Value Chain (HVC) model developed by the Ahoka Innovators, to construct the units. The developer has already launched 2400 units and will soon come up with the remaining ones.

The Vice President of DBS Affordable Home Strategy Mr. Sudarshan Iyengar said “ Although this group is in apposition to repay home loan EMIs they find it difficult to qualify for the formal sector loans for want of Income Proof, address proof and financial track record.”

Vice President at Ashoka Mr. Valeria Budinich said, “ new Alliances to design, build, finance market and scale up affordable housing throughout India are now in place. Over the next four years, Housing for All, an initiative of Ashoka, will start new projects based on this model in many states across the country.”