Layout rental housing needs ironing out
Clearly, the government has agreed to 1 bhk flat on rent in kharghar follow a strategy which has been in the works for nearly five years to build affordable rental housing. The policy is announced with greater ease than executed.
Rental housing in India per se yielded very poor returns of 1.5-3%. 1 bhk flat for rent in kharghar sector 10 which means a negligible fraction of what it costs to acquire that unit is the monthly inflow of returns from the housing unit. Secondly, the rules on rental housing are biased against tenants. As a result, even those who have excess units for investment prefer to keep them locked and wait until after 5-7 years the leveraged value goes up and yields on selling. The above return of about 8 percent offsets the low annual rental income. A study by the ministry of urban development Affairs (MoHUA) found that around 11 million houses remained empty and locked up across the country.
So what is it that changes now? The government has recognized that tenure security needs to be housed in relative comfort for those at the bottom of the ladder, 1 bhk flat on rent in kharghar sector 20 the migrant, mostly semi-skilled and informal sector labor. Throughout the lockdown, the pathetic scenes of thousands of migrant labor marching kilometers on foot, to escape the fear of running out of work and thus cash in urban India, have tugged our heartfelt strings.
Hostel-type accommodation in rental facilities is arranged through concessionaire arrangements on a PPP model, much like the collections of tolls. And that in the case of rental accommodation, there is no question that the problem of emotions connected with the eviction of a migrant worker who cannot afford to pay his rent would arise. Not that there is no way out.
The solution lies in providing rental subsidies such as those provided in the US or New York in particular. There must be a promise to pay monthly rents, no matter how small, fully furnished 1 bhk flat for rent in kharghar for it to develop into an enterprise. This risk is not present in toll collections and so I feel that the comparison is not apple to apple.
Similarly, if the government were to incentivize employers to pay employee rental expenses, with tax incentives on employers’ outflows, the issue of where the rent receivables come from, or if they would even come from, disappears. The concessionaire gets his leasing responsibilities, the contractor gets his inexpensive rental accommodation with all necessary facilities and his tax benefit for the employer.
The other major problem is the enormous time gap between making a decision and actually having housing on the ground. 1 bhk flats in rent kharghar a few years ago the senior officer objected to my listing slums and illegal settlements as existing affordable housing when I worked with a government authority to create a rental housing model. Those living in comfortable government-provided housing could not handle the fact that PMAY had not taken off and there was hardly any affordable rental housing on the land.
The situation today has changed when it comes to affordable ownership housing. For the lower segments of migrants flocking to working cities, affordable rental housing nowadays only exists in urban slums and chawls or unauthorized settlements.
They ‘re just affordable because they’re flouting the norms. However, in a pilot test of affordable housing across the five NCR cities, 1 bhk flat for rent in kharghar i found that in urban slums in a viable format, affordable rental housing does exist. Here, the landowners made dormitory-style rooms at the end of the floor along corridors with a shared toilet. They are the built-in modular style with the sizes staying the same for all the rooms and doors, windows, etc. This design similarity makes the construction simpler to reproduce and thus complete more quickly.
This formula of optimal use of space for better returns and modular construction style has not yet been implemented in the real estate industry or amongst planners. As a result, there are few and far between the ancillary industry of pre-cast members such as door and window frames, 1 bhk flat for rent in kharghar sector 12 walls, toilets, and other members that are made to scale in factories to be assembled at the site.
Today’s industry is heavily dependent on migrant labor, which has trudged home wearily and is in no mood to rush back. Will the announcement of affordable rental housing take into account these practical problems and mandate the technology-led construction that was supposed to have become a norm for all housing many years ago? Can the client agencies build modular formats and seek to replicate these on the ground on a scale? If unauthorized colonies are permitted to fill government coffers with income from registration and stamping duties, 1 bhk flats in kharghar for rent Is it already possible for urban villages that have mastered the format and built frameworks to become approved and retrofit safety standards and become the first official rental housing off the block?
Those are practical problems and someone needs to take the call for these acts. And then will India ‘s vision of affordable rental housing be fulfilled for urban poor.
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