Home seekers keen to invest in mid-range budget homes: Magicbricks

In a survey conducted by real estate portal Magicbricks, over 78 percent of the respondents considered buying mid-priced homes, wherein maximum respondents preferred buying homes within Rs. 40 lakh.

This clearly states the inclination of the buyers towards buying affordable homes. Not only this, 57 percent of the respondents preferred buying 2BHK apartments.

"To boost the slowdown-hit real estate sector, the government had announced infrastructure status to affordable housing to encourage investment in this segment and offered tax sops to developers sitting on completed unsold inventories," said Rohit Poddar, Managing Director, Poddar Housing and development.

"The National Housing Bank will refinance individual housing loans of about Rs 20,000 crore in 2017-18. To promote affordable homes, the government also proposed to amend the Section 80-IBA, relaxing the condition of period of completion of a project for claiming deduction from the current three years to five years," added Poddar.