Affordable Housing in India: A Guide For First-Time Buyers

In the Indian real estate landscape there is a surge in the number of first-time home buyers. This is because the demography is dominated by millennials in the early to mid-30 age which is a typical age for first-time home-buyers. The rising income levels are also a significant factor contributing to the growing demand for housing. However, this doesn’t mean that their problems are solved. The rising property prices have made it difficult for most who look for homes in the affordable category. Certain key policy changes affected by the government have allowed many first-time home buyers a way to buy affordable homes.

PMAY (Pradhan Mantri Awas Yojna)

The Pradhan Mantri Awas Yojna Scheme offers subsidies on home loan interest rates. This scheme is for the economically weaker sections and low-income groups who cannot afford homes at market rates. If the applicant is eligible they can avail of the scheme reducing their financial burden. First-time home buyers from the economically weaker sections can search for homes in the affordable segment with smaller configurations like 1 BHK flats in Dombivli are a good option for these home-buyers.


Location plays an important role in the home-buying process. The first-time home buyer looking for affordable homes should look for options in the budget-friendly locations of the city. Usually, locations on the outskirts of large cities or suburbs will have homes that meet their budget. In Mumbai, regions like Dombivli are now developing the best residential projects that have good connectivity and amenities.

Swaminarayan City is in Neo Thane which is a part of Dombivli and will be developing alongside the project. The location will have the best connectivity after the Mankoli-Motagaon Bridge is built and ready to use. The travel time will be reduced to 15 mins after the bridge is opened to public use.

Configuration and Pricing

Swaminarayan City offers 1,2 and 3 BHK homes in the affordable range. The project offers other benefits, offers, and discounts to first-time home-buyers who can avail of these in fulfilling their dream of buying a new home. The prices are comparatively lower although they are in a city like Mumbai.


The project will have many amenities that are usually offered in mid-segment and luxury projects. They include a multi-level clubhouse with many lifestyle features, Maharashtra’s biggest Swaminarayan Temple, and Gautam Singhania School within Swaminarayan city.

Buying an affordable home is not difficult these days if one avails of government schemes and invests in affordable projects.

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