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Low Cost Housing in Jaipur

Capital city of Rajasthan, Jaipur has immense prospects for individual seeking low cost housing in Jaipur. This is one place in Rajasthan that is fast developing along industrial lines. The tech hub in Jaipur though is not as well developed as that in Bangalore, Noida, and Gurgaon but still it draws a huge crowd. The demand for residential properties in Jaipur increased with the number of visitors every year and then the influx of people because of business, trade, and professional purposes. It is observed that the hike in property prices hardly affected the lifestyle of people in Jaipur except for the demand of low cost homes in Jaipur rising. The demand was then too restricted to acquiring the condos, independent homes, and apartments. The luxury home segment though experienced a fall in prices, there were very less builders too keen on construction of luxury homes. 


Budget homes in Jaipur

Most properties that came to be under the low cost housing label attracted more residents at a time when property prices in Jaipur was sky rocketing and was hitting hard on the purse of the middle-income group. The scenario was worse during the recession when the people found it even more difficult to opt for high-priced homes. The biggest loss was to the realtors when sale of homes fell significantly due to price rise. The low cost housing property in Jaipur came as solution providers. The maximum efforts were exerted by the Rajasthan Government that announced the launch of low cost housing scheme in Jaipur in the year 2009. 
Much difference was introduced in the state with the announcement of the affordable housing policy that aims to construct 1.25 lakh houses for the low-income group over a period of three years. The schemes in its various phases would encourage builders to construct homes on land given free to them. The size of the flats would be 325- 500 square feet area.
The prices of low cost housing in Jaipur is from Rs 2 lakhs onwards for those under the government housing schemes and other projects have a minimum prices of Rs 9 lakhs for 600-700 square feet home. But, the prices largely vary from one location to another and according to the area of occupancy. 

Low cost housing projects in Jaipur

The Jaipur Development Authority is an instrumental agency that is serving the city with various housing scheme for the poor and the middle-income people. The most popular among them is the Swarn Vihar that is located near the Muhana. 
Another popular housing scheme that gave rise to a number of low cost housing units in Jaipur is the Sahbhagita Awas Yojna introduced in June 2010 in Jaipur city. There are plans to develop flats for the economically weaker section in Jaipur. There are in total 20,000 homes scheduled to come up in Jaipur. The government will also assist in arranging low interest loans for such homes to those apply for one. The development costs of these homes have been estimated at Rs 2.4 lakhs and will be sold for Rs 1.9 lakhs minimum.