How real estate policies can benefit homebuyers

The real estate industry in India faces a formidable challenge: providing adequate housing for all citizens amid rapid urbanisation and burgeoning population growth. With over 60 million households lacking access to proper shelter, the need for affordable housing solutions has never been more urgent. Effective real estate policies play a pivotal role in addressing this pressing issue.

According to recent reports by the Ministry of Housing and Urban Affairs (MoHUA), India is grappling with a staggering shortage of affordable housing units, exacerbating the housing crisis. This shortage underscores the critical importance of implementing policies that prioritise accessibility, affordability, and inclusivity in housing development initiatives.

Buying a flat in Chennai is a good idea, due to the city’s thriving economy, robust infrastructure, reputable educational institutions, and cultural richness. The real estate market in Chennai has shown excellent growth over the years, making it an attractive investment option.

Chennai’s real estate market can help homebuyers in many ways,as

Affordability
Chennai’s real estate market is more affordable than other cities, like Mumbai,bangalore and Delhi. This is due to the lower average price of residential properties, which can make it a more accessible option for investors based on their requirements.

Government policies
The city’s government policies, such as the Real Estate Regulatory Authority (RERA) and housing schemes, promote transparency and protect buyers interests.

Connectivity
Chennai’s improved connectivity and infrastructure can make the city more accessible and liveable.

Suburban areas
Suburban areas can offer more space and better value for money than the city center. They can be a good option for homebuyers looking for larger properties or families.

Closeness to education
Buying a flat near educational institutions can provide a convenient lifestyle for families.

Tax benefits
First-time home buyers can claim tax deductions on home loans and other expenses.

Economic growth
Chennai’s strong economic growth has led to an increase in demand for housing.

The real estate market in Chennai has shown excellent growth over the years, making it an attractive investment option.