Suddenly, affordable housing is the buzzword in Indias real estate sector. Almost every developer who got hit badly in last years market meltdown is talking of getting into this segment that involves putting up houses for the masses.
Not everyone, however, is impressed. Deepak Parekh, chairman of HDFC, the company credited with setting up the housing finance market in India from the scratch, feels that in its present form, affordable housing is a `misnomer.
In his letter to HDFC shareholders, Parekh said that although developers are now reintroducing one-bedroom apartments and, in the current falling interest rate scenario, buyers are making a comeback, the real issues are not being addressed.
More : timesofindia.indiatimes.com
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