Cost-Affordable Ways for a Modular Home Modest Money2 Comments

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India has a booming population. According to the 2012 census results, the country has more than 1.27 billion people and the number is rising. However, more than 60 percent of the population is below the poverty line with no direct access to shelter, food and income. This percentage includes urban and rural homelessness. As India continues to expand its economy, most researchers doubt the capacity of the country to care for its poor and homeless.

Current Demand for Affordable Housing

Due to rising land costs, expensive labor, and raw material costs, an urban home can easily cost anywhere from Rs 20,00,000 to about Rs 2 crores, states Integbuild. This price range is expensive and most middle-class families opt for long-term loans to purchase their dream homes. However, for the lower middle class and poverty line class, home loans are also unavailable due to unemployment, no mortgageable assets, and poor credit. At present, Business Today estimates that 26.5 million housing units are required to house people in India. The good news is that prefab or modular housing is now available in India and it is affordable to almost 90 percent of the population, according to Rajan-c-mathew.blogspot.com.

History of Prefab or Modular…

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This entry was posted in Real Estate, and tagged , Modest Money2 Comments
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