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Top 10 Housing Projects to Invest in 2018

home finance

Many people have the ambition to own a house; they work hard and save money to buy one. People with huge income may not face financial problems in buying a house but for some people, it can be the biggest investment of their life.

No matter if you are a person happily running your successful small business or having a government or private job, you are making a great effort to fulfill the needs of your family. House is one of the needs nobody can ignore and if you are looking to buy a house or land you must follow few tips before investing your money.

  • Don’t invest in buying a house if there is a chance to move to another place.
  • Know your budget, don’t bankrupt yourself
  • Don’t ignore the added costs
  • Do an inspection of the property as much as possible. Note down the things that you need to buy, calculate your costs with an import calculator for best results.
  • Get everything in writing, don’t trust verbal agreements

Real estate market has grown enormously over these years with no signs of downfall. With the increase of land and house demands frauds have also increased you must make effort to avoid frauds while buying a house.

There are many housing projects runs by the state and central government in India and it can be a better place to invest. Technically government-owned housing projects have lower chances of frauds and provide best deals and installment facility to the buyers. Here I have made a list of housing projects owned by different states of India.

1.Delhi Development Authority

DDA (Delhi Development Authority) was created in 1957 with a motto to work for the development of Delhi people and provide a house to homeless. If you are from Delhi and want to spend your savings on buying a house then look for the offers provided by DDA.

DDA is doing a great job and had allotted more than 3 Lakhs flats for the people of Delhi till 2013. Almost about half of the flats were allotted for the having lower income. The flats allotted by DDA for the people of Delhi are equipped with essential services including electricity, sewage disposal, water, and other necessary infrastructure facilities.

2.Haryana Housing Board

The Haryana Housing Board was created in 1971 and till then it has provided more than millions of houses to the people of Haryana.

Haryana Housing Board allots houses for the weaker groups of the society including BPL families too. If you are from Haryana you can visit the board’s office to get information about the next allotments and offers. You can also visit its official website and get information from your comfort zone.

3.MHADA (Maharashtra Housing and Area Development Authority)

Maharashtra is home to more than 112 million peoples and the number is increasing.

MHADA came into existence in 1948 and had provided more than 7 lakh houses to the people of Maharashtra. MHADA is one of the oldest housing boards in India and had contributed a lot to the development of this state.

Maharashtra Housing and Area Development Authority are further subdivided in many different housing boards including Mumbai, Pune, Nagpur, Nashik, Amravati Board etc. The housing projects of Vikhroli and Tagore Nagar were built in the year 1962-63 and were the biggest housing project in Asia at that time.

4.UPAVP (Uttar Pradesh Housing Board)

Uttar Pradesh is the fourth largest state of India housing more than 221 million people. Uttar Pradesh is enriched with cultural diversity and is the home to some world-famous monuments including one of the seven wonders of the Earth, Taj Mahal.

UPAVP has done a great job over the years and had provided houses affordable houses to economically weaker groups of the society as well as to other groups at the competitive price range. The UPAVP works with the following mission statements:

  • To develop planned townships for all categories of the society
  • To facilitate the townships with hospitals, education centers, playgrounds, and modern amenities.
  • To create a friendly environment
  • To provide necessary resources such as water and electricity in the townships.

5.MPHIDB (Madhya Pradesh Housing & Infrastructure Development Board)

If you have born and rose on the land of Madhya Pradesh you can fulfill your dream of owning a house. Madhya Pradesh is one of the fast developing states of India and MPHIDB had contributed a lot in the same.

The second largest state of India, Madhya Pradesh is exceptionally diverse and rich cultured. The housing board of Madhya Pradesh can be a better place to invest your money in buying a house this year. Go through its official website to get information about the allotments of the projects and flats.

6.UDH (Rajasthan Housing Board)

Rajasthan is India’s largest state and is the home to more than 75 million people. This state is one of the most traveled places in the world and had become a tourist hotspot.

The housing board of Rajasthan was established in 1970. UDH has allotted millions of houses for the people of Rajasthan and hundreds are projects are in the running stage. As other state housing boards, UDH has provided almost 60% of the housing allotments to the residents having lower income.

7.PUDA (Punjab Urban Planning and Development Authority)

Punjab is the land of greenery and one of the most fertile regions of India. It produces more than 17% of India’s wheat and 11% of India’s rice.

This state of India has a population of 30+ million people and PUDA is serving them continuously since its foundation. PUDA was founded in 1995 and servicing its residents with its main objectives such as

  • Provide sustainable and affordable house to every group of the society.
  • Come with integrated planning and work for the development of the urban area.
  • Provide maximum housing facilities to the residents with lower income.
  • Creating an environment of social harmony
  • Applying the latest technology to minimize the housing costs

8.OSHB (Odisha State Housing Board)

Odisha is the land of a rich marine ecosystem and rich culture. If you are a resident of Odisha you can look for the latest state housing schemes to invest your money.

OSHB was established in 1968 and is working in fulfilling the desire for a house of people of Odisha. The best part of this state housing board is that it runs multiple housing projects for every section of the society. OSHB has provided LIG and EWS categorized homeless residents at a subsidized rate.

The allotments of flats and house have no doubt enhances the living standards of the owners.

9.TNHB (Tamil Nadu Housing Board)

TNHB came to existence in the year 1961 to deal with the increasing demand for houses. A huge population has migrated to the cities in a search of better job opportunities and living conditions after indolence from the British rule.

TNHB had categorized its residents according to their economic status to provide affordable houses and making great efforts to benefits each and every resident. The categories are as follows:

  • EWS – Economically Weaker Section
  • LIG – Lower Income Group
  • MIG – Middle Income Group
  • HIG – Higher Income Group

10.KSHB (Kerala State Housing Board)

KSHB is one of the most successful housing boards of India established in 1971. KSHB was proudly nominated as India’s top housing agency for the seven times and it’s just unbelievable.

With KSHB your dream of owning a house will come true no doubt. Go to the official website of KSHB or visit the local government authorities to get the necessary information about the schemes and allotments.

Bottom Line

India is a developing country and is the second largest populated country in the world. Housing more than 1.35 billion people India has come a long way and performing great in many global indexes.

House is a human’s basic need and different housing boards of India are working 24/7 in providing affordable houses to the homeless and people with lower living standards.

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